SHANGHAI, May 9 (Xinhuanet)-- Shanghai's three worst social
problems -- traffic congestion, housing shortage and pollution -
have been significantly eased with massive capital investment, and
the megacity now aims to turn itself into an internationalized
metropolis in 20 years.
   Shanghai mayor Chen Liangyu told the "PRC-Day" Seminar in
Shanghai on Thursday, one of the ongoing 35th Asian Development
Bank (ADB) Annual Meeting activities, that since 1990 investment
in local infrastructure construction had reached 365 billion yuan
(44 billion U.S. dollars) and in housing development projects had
jumped to 350 billion yuan (42 billion U.S. dollars), accounting
for 90 percent and 60 percent respectively of total investment
over the past five decades.
   The capital injection has built an integrated urban traffic
network composed of elevated highways, express trunk roads and
urban subways, four bridges over the Huangpu River, and the first
phase of the Pudong International Airport with a designed capacity
of handling 20 million passengers each year, according to Chen.
   Local sources also indicate that Shanghai has demolished 31
million sq. m of old residential buildings since 1990. Newly built
houses in the same period exceed 100 million sq. m in floor space,
raising the per-capita living space from 6.6 sq. m in 1990 to 12.1
sq. m in 2001. The chronic housing shortage in the city has ended.
   A group of high-capacity waste-water treatment and discharging
facilities has been built, and a clean-up project has
significantly improved the water quality of Suzhou Creek.
Meanwhile, massive afforestation efforts have increased the per
capita green space from one sq. meter 10 years ago to 5.5 sq. m
last year.
   Upon completion of a deep-water harbor in five to 10 years,
Shanghai is expected to become a global shipping hub, and the
airport project will finally make the city one of the aviation
centers in the Asia-Pacific region, Chen said.
   The mayor attributed Shanghai's achievements to successful
financial reforms over the past decade, adding that the social
capital investment now was running smoothly in line with market
principles, under the guidance of the government.
   Chen revealed that Shanghai planned to keep up the momentum for
reforming its investment and financing system, introduce some
internationalized methods and mobilize stronger public support for
the urban construction drive.  Enditem