Shanghai literally means up/above the sea and according to some archeological discoveries, the earliest records of existence of this place come during the Song dynasty. It is also known as the ‘Paris of the East’, due its cosmopolitan culture and beautiful overall backdrop. The treaty of Nanjing, Bogue and the Sino-American treaties led to the right of many foreign businessmen and traders to set foot on Chinese soil. These included the British and the French, the most at that time. People from all over the world would come and work in Shanghai during the 1920s and 30s and they came to be known as ‘Shanghai Landers’. During the establishment of the Soviet Union, many “white Russians” and Russian Jews had to flee and they came to Shanghai to settle down. Today, this group of Russians forms the second largest community of Shanghai. During the Sino- Japanese war, Japan emerged as the ruling power over Shanghai and the Japanese were the first to establish factories and manufacturing units in Shanghai. Later Shanghai was again captured by China and has remained with it since then. During the turmoil of the cultural revolution, Shanghai was one of the few cities showing high growth and productivity and since then, the development of Shanghai has been un ending and most of this development can be experienced in parts of Pudong and Lujiazui.
Temperature at Shanghai could reach extremes, touching 40 degrees Celsius during the summers and going up to 5 degrees below 0 during the winters. But this doesn’t stop the people from coming here and minting money. Shanghai is a heaven for traders of stocks and those who want to invest in the Shanghai stock exchange. The Shanghai composite index is the fastest growing in the world and registered a growth of almost 130% in 2006. The GDP of Shanghai has been pegging in double digits since 1992, with the average GDP of past 10 years being 13. Most international banking corporations have their houses at Shanghai. Shanghai is also the home to HSBC bank, the best performing bank in the world over the years. More business means more people, and more people mean more space to live, and therefore, the construction and real estate industry is also booming at Shanghai. Real estate prices in Shanghai have shown the highest increase in all time, and are a gold mine for the investor who has the money. Shanghai is also cashing in on foreign students and houses China’s best universities – Fudan, Shanghai Jiao Tong and Tongji universities. These Universities have special programs for international students and these universities also employ lecturers of international acclaim, thereby making Shanghai an intellectual hub as well ,and in the process, the revenue generated from education and related services adds a huge chunk to that double digit GDP growth of Shanghai.
The public transport system, like that at any other metropolis in the world, is perfect here. It is mainly composed of busses and trains, networked in a smart and effective way. The metro travel is also catching up fast and usually you would not face many problems when it comes to traveling in Shanghai. The bus network of Shanghai is the most elaborate and extensive in the world, with rapid bus transits of almost a 1000 kms in length. Shanghai has two airports – The Pudong International airport and The Hong qiao airport. While the Hong qiao airport handles domestic traffic and traffic to nearby cities of Tokyo and Seoul, the Pudong international Airport is the third largest in terms of traffic in China. The Pudong airport is a testimony to the level of influx of traders and tourists to Shanghai. Pudong international airport handles the maximum international traffic in China- to the tune of 17.5 million passengers in a year!
For the pure business traveler, the Bund, Pudong and Xintiandi are the most frequented districts, offering the maximum potential for growth and business in Shanghai. The Bund is an area of the Huangpu district of Shanghai. The Bund is basically a street in this district of Shanghai which lies along the Huangpu River. Bund usually refers to the buildings here, whose height is restricted by law to preserve the architecture of some of the historical buildings here. “Bund” usually means an embankment and refers to the way in which this particular section of Shanghai is built, as an embankment, raised above the sea. The Bund is house to buildings of many banks from Japan, Russia, USA, Britain, Germany, France and Belgium. It is also home to the consulates of Russia and Britain. The premises of the most famous and sought after clubs of China- the Shanghai and the Masonic clubs are also at the Bund only. Many pivotal deals have been struck at these clubs in the history of Shanghai, and looking at the importance and clientele of these clubs, one can be nothing but certain that many more are still to come. The Bund is house to mostly all European and American corporate houses in Shanghai, because of the reason that The Bund was initially established as a British settlement only, and was later handed over to America. Because of this strong bastion of foreigners around this region, most foreign settlements were made here, and that is the main reason why even today, most foreign traders are seen hunting for their fortunes along this one mile long area along the banks of the Huangpu river.
The major buildings along the Bund are the Asia building, housing some petroleum houses, The Union building, which houses some dozen insurance companies, the Nissin Building, The HSBC bank building, which is now not owned by the bank because of failure of a deal between the bank and the government, but it is one of the most beautiful and luxurious buildings in the whole world and about twenty other buildings housing major banks and trading and shipping corporations of Shanghai. There are in all 29 buildings at The Bund, which house more than 200 corporations, consulates, hotels and clubs. The Xintiandi is an eating, shopping and entertainment area of Shanghai. Traffic is not allowed here and this is a relatively silent suburb district of Shanghai. For the businessman, book cafes, coffee shops, entertainment hubs and restaurant joints are the places to invest in! Xintaindi is also becoming an investor hot spot, owing to the huge number of people who visit this place in search of food and fun. This also happens to be a sitting area for the ‘romantic couples’, and a shrewd businessman can buy or lease some space that provides a good seating area, in a romantic ambience, serving coffee and snacks. Earning potential is high in this area because of relatively less investment from foreing investors in the hospitality industry here.
Pudong, a district close to the Bund, is home to the Shanghai Stock Exchange, and is officially the testimony to the changing face of Chinese economy. The skyline and ambience of Pudong is reflective of only one thing- MONEY! The Bund and the Pudong are the main hubs of commercial activity in Shanghai, and one can stay at one of the numerous business hotels spread between these two districts to make the most of his business stay. Some of the most famous establishments at Pudong are the Pudong International Airport, Jin Mao building, which is of historical significance, the Lujiazui finance and trading zone, which happens to be the busiest brokerage and financial house in Shanghai and probably in the whole world and the Oriental Pearl Tower. Pudong is a special economic zone, where investment and business opportunities are far more than the limits of this article and the keen businessman is bound to find a perfect investment target on the streets of Pudong. Where else would one want to be than at the fastest growing economy of the world in order to reap the benefits of a bustling GDP and an ocean of investment opportunities!