Shanghai is one of the most populous city in China.The city is located in eastern China,at the middle portion of the Chinese coast,and sits at the mouth of the Yangtze River.Due to its rapid growth in the last two decades,it has again become one of the world’s leading cities,exerting influence over finance, commerce.fashion,and culture.
Once a fishing and textile town,Shanghai grew in importance in the 19th century due to its favourable port location and was one of the cities opened to foreign trade by the 1842 Treaty of Nanjing.The city then flourished as a centre of commerce between east and west,and became a multinational hub of finance and business in the 1930s.However,with the Communist Party takeover of the mainland in 1949,the city’s international influence declined.In 1990,the economic reforms introduced by Deng Xiaoping resulted in an intense re-development of the city,aiding the return of finance and foreign investment to the city.Shanghai is now aiming to be a global finance hub and international shipping centre in the future,and is predicted to become one of the world’s main global financial centres,on the level of even London and New York in this regard.
Shanghai is also a popular tourist destination renowned for its historical landmarks such as The Bund,Peoples Square(the former racing track)and Yuyuan Garden,and its extensive vet growing Pudong skyline.It hosted the World Expo in 2010,attracting 73 million visitors.It is described as the”showpiece”of the booming economy of China.
