SHANGHAI- The economic, social, urban and rural development of China is not less than a miracle in the world as a country without more investment in research and development fields according to their competitors has forced the entire world to confess that China had become a manufacturing factory for the world and its economy is booming day by day. Infact its not fair to ignore the inflation problem confronted by Chinese government but they are achieving GDP development in their economy as a result of increase in exports and foreign reserves. The Pakistani media delegation that came to visit Shanghai, the industrial hub and agriculture City of China witnessed much development in Shanghai as it has become an urban myth that at one time, one-quarter of the worlds construction cranes were in Shanghai. Indeed, it now has now more skyscrapers than New York City. Shanghais historical upheavals and rebirths can be traced through architecture, with its colonial legacy and capitalist boom. The City is being transformed with mind-bogglingly ambitious plans. The latest symbol of Shanghais urban culture is Xintiandi, a bustling shopping and entertainment district. But these luxury boutiques, which appear to be housed in traditional lane houses, are not what they seem. In fact, Xintiandi is a re-imagining of Shanghais old streetscape as consumer experience, dreamed up by American architect Ben Wood. Traditional music wafts along the street, heightening the film-set feel of the place. This is Shanghais most hyped urban development of recent years. But the decision to leave some old buildings standing is the exception rather than the rule. The more-accepted new face of Shanghai is an ever-growing labyrinth of skyscrapers. From an observation deck in Pudong, a district across the river from Shanghais original settlement, skyscrapers stretch out into the distance as far as the eye can see. Twenty years ago, this area was just farmland. Now, this viral growth of skyscrapers, this City on steroids, symbolises Chinas urban future. It was learnt that the past five years witnessed rapid economic and social progress, remarkable achievements in urban infrastructure and environmental protection and significant improvement of peoples living standards in Shanghai. The City has experienced great changes over the past five years, and last year, in particular, was a year with many important developments. Shanghais total GDP was RMB 540.8 billion with a growth rate of 10.9 per cent. This was the 11th year in a row when Shanghai achieved two-digit rate economic growth. Per capita GDP of Shanghai was close to $5,000($4,909). The goals of industrial restructuring are being realised in the process of continued economic growth. For instance, 51 per cent of Shanghais GDP last year came from added value of the tertiary industries. Finance and insurance, retail and distribution and real estate contributed about half of the growth in the tertiary sector and became the new pillars of the local economy. Such key industries as electronic and IT products, automobile, petrochemicals and fine chemicals, high value-added steel products, power plant equipment and bio-pharmaceuticals have achieved an industrial output of RMB451.8 billion, accounting for 58.4 per cent of Citys total GDP. Shanghai will furthermore stick to the industrial development strategy and give priority to the tertiary sector. By taking the opportunity of international industrial restructuring as the Chinese government was striving to boost the competitiveness of the local industries as a whole. In accordance with the further opening-up of Chinas service sector, proactively develop modem service industries, focusing on such industries as finance, retail and distribution, modem logistics, conference and exhibition and tourism and maintaining the healthy and stable growth of the real estate industry were their future planning. The Chinese govt is also building the four key industrial bases, namely the microelectronic industrial base, the international Auto City, Shanghai Chemical Zone and high value-added steel product base.