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Among the 498 stores first opened in Shanghai in the first half of 2019, 59 percent are restaurants, 32 percent retail stores and 11 percent entertainment service providers. Apart from the obvious reasons such as the large population, higher consumption capability of local residents, and business vibrancy, experts from RET also stressed that the communication proficiency and government efficiency have made Shanghai an ideal launch pad.

Amazon’s blog post appears to be in response to those criticisms. The company touted other contributions to the economy, including spending?more than 0 billion in compensation to employees, corporate offices, fulfillment centers, infrastructure to power its cloud business, solar power farms, equipment, and machinery.

Among them, industrial enterprises generated profit of 207.4 billion yuan (.3 billion) from January to August, up 15.7 percent, data from the Shanghai Municipal Bureau of Statistics showed.

Among the nine companies that SVG Partners has selected for this year's seed accelerator cohort are two from China.

Among the 6,100 surveyed enterprises, some 70 percent are private companies, about 20 percent are State-owned firms, and 2 percent are foreign-owned.