Wendy Zhang/ Shanghai Daily news

Shanghai's Grade-A office buildings are ranked amongst the top 50 in the world when it comes to the cost of rent, the Oriental Morning Post reported today.
For high-end businesses, increases in rent have gone up by at least 25 percent from January to July this year. Since 2002, local office rent has been on the rise. An industry analyst with the DTZ Debenham Tie Leung cited Shanghai's growing popularity among foreign-invested firms as the key reason for the increases..
Renowned financial service multi-nationals are busy expanding operations in Shanghai and that is one way to drive up demand for local office space.
Some of the luxury business centers, such as those located on Nanjing West Road and Huaihai Road go up a staggering US$1.1 per square meter per day, this puts them 37th on the global office space rental tally. .