(Yicai Global) May 13 -- Often described as China's Manhattan, Lujiazui Financial City in Shanghai contributed more than CNY100 billion (USD14.67 billion) to government coffers for the first time last year.
The financial district's almost 43,000 businesses paid a total of CNY105.5 billion in taxes in 2018, according to figures released today.
Boasting more than 250 office buildings, Lujiazui Financial City is one of the world's most densely build up areas. Located on the east side of the Huangpu river, it has attracted a slew of financial firms and is home to premium skyscrapers such as Shanghai Tower, Jin Mao Tower and the Shanghai World Financial Center.
Ninety-seven buildings contributed over CNY100 million (USD14.7 million) in taxes each last year, the data show. That is expected to increase to 100 this year, with about 24 of them handing over in excess of CNY1 billion a piece.
Multinational firms are also increasingly choosing to locate their regional headquarters in Lujiazui Financial City as it rapidly develops. Twenty-one businesses settled there last year and it will become home to the head offices of over 100 such companies in 2019, an official said today.