Fast Facts
Shanghai and Hong Kong are rivaling to be the economic centre of the Greater China
region. Shanghai has stronger links to both the Chinese interior and the central
government, and a stronger base in manufacturing and technology. Shanghai has increased
its role in finance, banking, and as a major destination for corporate headquarters,
fueling demand for a highly educated and modernized workforce. China offers one
of the best opportunities for international Financial Advisers in the world. The
expatriate population has grown immensely in recent years – it is estimated to be
close to 200,000. Currently the world’s second largest economy (in terms of PPP),
many expect that China is set to become the world’s largest economy in the coming
years.
Shanghai has recorded a double-digit growth for 15 consecutive years since 1992.
The Shanghai Stock Exchange is the world's fastest growing.
The population of Shanghai Municipality is estimated at above 19 million and according
to the Shanghai Municipal Statistics Bureau, there were 133,340 foreigners in Shanghai
in 2007.
deVere Office
The deVere office is situated on People’s Square in the heart of downtown Shanghai
in one of the most prestigious office addresses. The office building houses a Mercedes
Benz showroom on the ground floor, and the Porsche, Ferrari and Lamborghini showrooms
in the building opposite, and is next door to the JW Marriott 5 star hotel.
Transport
The office is conveniently situated on the cross lines of the 2 main Shanghai Metro
lines. The predominant form of transport in Shanghai however is by taxi, with costs
being approximately £1 for the first 3 km and 20p per km thereafter.
Costs of Living
Single consultants and coordinators tend to live within walking distance of the
office with rentals being in the £500 per month range (or lower for coordinators).
Married consultants tend to live 20 minute taxi or metro away from the office in
“expat” compounds with rents being in the £800 - £1000 per month range. Taxi costs
per month getting to and from appointments costs in the region of £150 per month.
Normal food and livings costs apply for expat supermarket shopping and eating out
at top restaurants but for those who want to conserve money Chinese supermarkets
and restaurants can be much cheaper. Consultants should work on the basis of one
month’s rental deposit and 3 months upfront rent is required. Thereafter rent is
paid quarterly.
Why Shanghai
The Shanghai management wants to aggressively expand the Shanghai office. As of
July 2009 there are 10 consultants in the Shanghai office as opposed to 17 in Hong
Kong, 40 in Dubai and 17 each in Abu Dhabi and Oman. The Shanghai management aims
for 20 consultants in the office and are therefore looking to recruit 10 high quality
consultants and 5 coordinators and have the space to accommodate these with immediate
effect.
For consultants with a medium term aim to build up an excellent business Shanghai
is one of the cities with the brightest future for expansion. Foreign companies
can not afford not to have a presence in Shanghai and thus the expat populations
is set to expand rapidly over the next 2 – 5 years as Shanghai endeavours to replace
Hong Kong and Tokyo as the foremost financial hub for the Far East.
|