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Shanghai was known as the Paris of the East, and in the early part of the 20th century, and had a very glamorous, cultured and yet decadent reputation. The city was practically closed off to the rest of the world, but now it is regaining its reputation as a real cosmopolitan Eastern city. Although Beijing is the capital of China and is the political centre, Shanghai is where the financial heart of China resides. The city is a very progressive and enterprising place to conduct business. In 1990 Shanghai went through a building boom and increased foreign investment transformed Shanghai into a very prosperous city. Nowadays it can boast of having one of the most industrialised bases in China. The Pu Dong district is a true example of the success story of Shanghai. The Chinese government invested millions of dollars on infrastructure projects in the Pu Dong district, as well as the very modern Pu Dong International airport. Pu Dong has lots of high-rise buildings and the financial banks and brokerages are all based here, and one can say that the future is looking bright for Shanghai. Also one must notice the rebirth of Shanghai Arts and Culture. The very splendid Shanghai Museum as well as the Shanghai Grand Theatre are great examples of the city's cultural renaissance. |