Shanghai: An Overview
Shanghai is situated on the estuary of the Yangtze River and is the largest industrial city in China. Shanghai is China’s richest and largest city with a population of nearly 19 million. By the look of all of the construction activity and rapid transformation from traditional city to bustling metropolis, it’s fair to say that number will continue to increase. For comparative purposes, today, Shanghai’s skyline is bursting with some 3,000 buildings; 20 years earlier, there was exactly one.
Shanghai's Global Appeal...
Shanghai serves as China’s business lifeline with a number of seaports and international conglomerates dotting the landscape to create its largest commercial and financial center. It’s Mainland China’s answer to Hong Kong with its cosmopolitan character and global appeal. That’s not to discount its cultural appeal, it’s just that more and more of it is seemingly swept to the side to make room for forward progress. As the commercial hub of the country, Shanghai is more open and westernized due to its long heritage of international trade and European influence which suggests investors are likely to see good returns in capital appreciation and rental income.
Shanghai's Past and Future...
As far as ancient historical sites, Shanghai goers will find much more modernity and recent history to discover—and this trend is unlikely to slow. The municipal government has gradually mapped out three tourism itineraries—city tours, business and shopping—which are all organized around the People's Square, or Ren Min Guang Chang, a large public square surrounded by government buildings, beautiful park-like landscape, a water fountain, and underground shopping mall.
Then of course there’s the famous Bund District, which houses dozens of historical buildings along the Huang Pu River. The view from the other side of the river is astounding as buildings of various architectural styles, like Gothic, Renaissance, Baroque, and Art Deco line the landscape and create a picture postcard effect that’s even more dazzling at night. Across the river from this original settlement of Puxi is Shanghai’s future, the Pudong New Area, exemplified by its symbolic Pearl TV Tower.
Onward and Upward...
For nearly two decades Shanghai has developed at an astounding speed, experiencing massive-scale investment and urban regeneration fed by an economic renaissance assisted by China’s accession to the World Trade Organization in 2001.
In 2004, Shanghai hosted the inaugural Chinese Grand Prix, fitting for a city with such a foot-to-the-floor economy, and like Beijing, will enjoy its own grab at glory when it hosts the World Expo in 2010, an event that’s expected to include 200 participating countries and more than 70 million visitors worldwide.
In 2005, Shanghai’s gross domestic product increased by approximately 11%, and in spite of belt-tightening tactics employed to slow the pace and decrease short-term speculation, the economy also soared 12.6% in the first half of 2006, as the city continues to pour investment funds into the site of the World Expo. Continued urbanization, economic development and the population’s increasing affluence serve as positive indicators that the upward trend in the property market will remain well into the future.
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For more information on relocating or making a property purchase in Shanghai, please contact us: chinaventures@vinniesworld.com
