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Shanghai Municipality

 

Shanghai is the largest city in China in terms of population and one of the largest metropolitan areas in the world, with over 20 million people. It Located on China's central eastern coast at the mouth of the Yangtze River, the city is administered as a municipality of the People's Republic of China with province-level status.

Shanghai has been a political hub of China since the 20th century. The 1st National Congress of the Communist Party of China was held in Shanghai.

By 2006, Shanghai's actual level of autonomy has arguably surpassed that of any autonomous regions, raising alarm bells in Beijing. In September 2006, the Shanghai Communist Party Secretary Chen Liangyu, Shanghainese in origin and often clashing with central government officials, along with a number of his followers, were removed from their positions after a probe into the city's pension fund. Over a hundred investigators, sent by the Central Government, reportedly uncovered clues of money diversion from the city's pension fund to unapproved loans and investments. Chen's abrupt removal is viewed by many Chinese as a political manoeuvre by President Hu Jintao to further secure his power in the country, and retain administrative centralism. In March 2007 the central government appointed Xi Jinping, who is not a Shanghai native, to become the Party Secretary, the most powerful office in the city. Xi would eventually be transferred to work for the central government in Beijing and was replaced by Yu Zhengsheng in November 2007.

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 Hong Kong to become the second busiest port in the world, behind Singapore.

The Shanghai Stock Exchange in the Lujiazui financial district.Shanghai and Hong Kong are rivaling to be the economic center of the Greater China region. Hong Kong 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. For a gallery of these unique architecture designs, see Shanghai (architecture images).

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 and Technological Development Zone, and Shanghai Caohejing High and New Technological Development Zone.

Tourist Attractions in Shanghai

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