Shanghai is officially abbreviated 沪 ( Hù/ Vu 2) in Chinese, a contraction of 沪渎 ( Hù Dú/ Vu Doh, " Harpoon Ditch"), a 4th- or 5th-century Jin name for the mouth of Suzhou Creek when it was the main conduit into the ocean. How the name should be understood has been disputed, but Chinese historians have concluded that during the Tang dynasty, the area of modern-day Shanghai was under sea level, so the land appeared to be literally "on the sea". The earliest occurrence of this name dates from the 11th-century Song dynasty, when there was already a river confluence and a town with this name in the area. The two Chinese characters in the city's name are 上 ( shàng/ zan, "upon") and 海 ( hǎi/ hae, "sea"), together meaning "On the Sea". Shanghai is also known for its sugary cuisine, distinctive local language and vibrant international flair. Featuring several architectural styles such as Art Deco and shikumen, the city is renowned for its Lujiazui skyline, museums and historic buildings including the City God Temple, Yu Garden, the China Pavilion and buildings along the Bund, which includes Oriental Pearl TV Tower. Shanghai has been described as the "showpiece" of the booming economy of China. The Shanghai Metro, first opened in 1993, is the largest metro network in the world by route length. The city is also a global major center for research and development and home to many highly ranked Double First-Class Universities. As of 2022, it is home to 12 companies of the Fortune Global 500 and is ranked 4th on the Global Financial Centres Index. Shanghai has been classified as an Alpha+ ( global first-tier) city by the Globalization and World Cities Research Network. The city has since re-emerged as a hub for international trade and finance it is the home of the Shanghai Stock Exchange, one of the largest stock exchanges in the world by market capitalization and the Shanghai Free-Trade Zone, the first free-trade zone in mainland China. After the war, with the CCP takeover of the mainland in 1949, trade was limited to other socialist countries and the city's global influence declined.īy the 1990s, economic reforms introduced by Deng Xiaoping a decade earlier resulted in an intense redevelopment of the city, especially the Pudong New Area, aiding the return of finance and foreign investment. During the Second Sino-Japanese War, the city was the site of the major Battle of Shanghai. The city then flourished, becoming a primary commercial and financial hub of Asia in the 1930s. The Shanghai International Settlement and the French Concession were subsequently established. The city was one of five treaty ports forced to open to European trade after the First Opium War. Originally a fishing village and market town, Shanghai grew in importance in the 19th century due to both domestic and foreign trade and its favorable port location. Shanghai is one of the world's major centers for finance, business and economics, research, science and technology, manufacturing, transportation, tourism, and culture, and the Port of Shanghai is the world's busiest container port. As of 2018, the Greater Shanghai metropolitan area was estimated to produce a gross metropolitan product ( nominal) of nearly 9.1 trillion RMB ($1.33 trillion). The population of the city proper is the third largest in the world, with 24.89 million inhabitants in 2021, while the urban area is the most populous in China, with 39.3 million residents. The city is located on the southern estuary of the Yangtze River, with the Huangpu River flowing through it. 830, East Nanjing Road.Shanghai ( / ʃ æ ŋ ˈ h aɪ/ Chinese: 上海 pinyin: Shànghǎi, Wu Chinese pronunciation: ⓘ, Standard Mandarin pronunciation: ⓘ) is one of the four direct-administered municipalities of the People's Republic of China (PRC). 358, East Nanjing Road, and Da Dun now as No. 479, East Nanjing Road, Wing On now known as Hualian Commercial Building in No. Nowadays, three of the stores can still be found in Shanghai. The ‘Four Famous Department Stores’ appeared: the Sincere, Wing On, Sun Sun and Da Dun Department Stores. Meanwhile, local and foreign Chinese started to develop their businesses here. The foreign concessions of Shanghai as a metropolis infested by foreign adventurers became the symbol of the economic and cultural prosperity. All kinds of foreign goods entered the city, especially in the emigrant hub. A large number of enterprises, advanced techniques & equipment and systematic factory management insured the city's position as an important base of modern industry in China as well as the shipping, financial and trade center of the Far East Areas. In 1930s, modern industry developed quickly in Shanghai and it became the ‘Paris of the East’. Shanghai 1930s History – The Paris of the East
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