Cultural, Commercial, Financial, Industrial and Communications Center
Shanghai, situated on the banks of the Yangtze River Delta in East China, is the largest city of China and the eighth largest in the world. The city serves as one of the nation's most important cultural, commercial, financial, industrial and communications centers. Shanghai is one of China's four municipalities (Beijing, Tianjin and Chongqing) that have province-level status.
Since the economic reforms in 1992, Shanghai has surpassed the early starters of Shenzhen and Guangzhou and has led China's economic growth. In 2005, Shanghai became the world's busiest port in terms of cargo throughout. The city hosts the largest share market in mainland China. Shanghai's skyscrapers and modern lifestyle are seen as representing China's economic development. Despite all the success, it has to cope with increased worker migration, a huge wealth gap and environmental degradation. One unique Shanghainese cultural element is the shikumen residences (two or three-story houses). Each residence is connected and arranged in straight alleys, known as a longtang. The shikumen is a cultural blend of western architecture with traditional Chinese style.
Since the economic reforms in 1992, Shanghai has surpassed the early starters of Shenzhen and Guangzhou and has led China's economic growth. In 2005, Shanghai became the world's busiest port in terms of cargo throughout. The city hosts the largest share market in mainland China. Shanghai's skyscrapers and modern lifestyle are seen as representing China's economic development. Despite all the success, it has to cope with increased worker migration, a huge wealth gap and environmental degradation. One unique Shanghainese cultural element is the shikumen residences (two or three-story houses). Each residence is connected and arranged in straight alleys, known as a longtang. The shikumen is a cultural blend of western architecture with traditional Chinese style.