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Shanghai is the largest city in China in terms of population and one of the largest urban areas in the world,with over 20 million people in its extended metropolitan area.Located on China's central eastern coast near the mouth of the Yangtze River,the city is administered as a municipality with province-level status.
Originally a fishing and textiles town,Shanghai grew to importance in the 19th century due to its favourable port location and as one of the cities opened to foreign trade by the 1842 Treaty of Nanking.The city flourished as a center of commerce between east and west,and became a multinational hub of finance and business by the 1930s.However,Shanghai's prosperity ended after the 1949 * takeover and the subsequent cessation of foreign investment.Economic reforms in 1990 have resulted in intense development and financing,and in 2005 Shanghai became the world's busiest cargo port.
The city is an emerging tourist destination renowned for its historical landmarks such as the Bund and Xintiandi,its modern and ever-expanding Pudong skyline including the Oriental Pearl Tower,and its new reputation as a center of culture and design.Today,Shanghai is mainland China's center for commerce and finance,and has been described as the "showpiece" of the world's fastest-growing economy.
Shanghai is often regarded as the center of finance and trade in mainland China.Modern development began with the economic reforms in 1992,a decade later than many of the Southern Chinese provinces,but since then Shanghai quickly overtook those provinces and maintained its role as the business center in mainland China.Shanghai also hosts the largest share market in mainland China.
Shanghai has one of the world's busiest ports.Since 2005,Shanghai has ranked first of the world's busiest cargo ports throughout,handling a total of 560 million tons of cargo in 2007.Shanghai container traffic has surpassed * to become the second busiest port in the world,behind Singapore.
Shanghai and * are rivaling to be the economic center of the Greater China region.* has the advantage of a stronger legal system,international market integration,superior economic freedom,greater banking and service expertise,lower taxes,and a fully-convertible currency.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.Shanghai has recorded a double-digit growth for 15 consecutive years since 1992.In 2007,Shanghai's nominal GDP posted a 13.3% growth to 1.2 trillion yuan.The Shanghai Stock Exchange is the world's fastest growing,with the Shanghai Composite Index growing 130% in 2006.
As in many other areas in China,Shanghai is undergoing a building boom.In Shanghai the modern architecture is notable for its unique style,especially in the highest floors,with several top floor restaurants which resemble flying saucers.
The bulk of Shanghai buildings being constructed today are high-rise apartments of various height,color and design.There is now a strong focus by city planners to develop more "green areas" (public parks) among the apartment complexes in order to improve the quality of life for Shanghai's residents,quite in accordance to the "Better City - Better Life" theme of Shanghai's Expo 2010.
Industrial zones in Shanghai include Shanghai Hongqiao Economic and Technological Development Zone,Jinqiao Export Economic Processing Zone,Minhang Economic Economic and Technological Development Zone,and Shanghai Caohejing High and New Technological Development Zone.