Shanghai is situated in the east of China. It is the largest city of China and the seventh largest in the world. It is widely regarded as the citadel of China’s modern economy, and one of the nation’s most important cultural, commercial, financial, industrial and communication centres.
In the late nineteenth century and early twentieth century, Shanghai once became the third largest financial centre in the world, ranking after New York City and London, and the largest commercial city in the Far East. Following the central government’s authorisation of market economic redevelopment of Shanghai in 1992, Shanghai has since led China’s economic growth. Its skyscrapers and modern lifestyle are often seen as representing China’s recent economic development.
The 2003 census put the population of Shanghai Municipality to 13.42 million; however, more than 5 million people work and live in Shanghai undocumented, and of the 5 million, 4 million belong to the floating population of temporary migrant workers.
Shanghai has recorded a double-digit growth for 14 consecutive years since 1992. It had a GDP per capita of ¥55,153 (ca. US$ 7,116) in 2006, ranked no. 1 among all 659 Chinese cities. It is a traditional base in manufacturing and technology, and also has increased its role in finance, banking, and as a major destination for corporate headquarters. Historically western in lifestyle, Shanghai is increasingly a centre of communication with the western world.
Shanghai has the world’s most extensive bus system with nearly one thousand bus lines. The Shanghai Metro (subway and elevated light rail) has five lines. By the year 2010, another 8 lines will be built in Shanghai. The first commercial Maglev railway in the world was constructed in Shanghai, and started operation in 2003. The 30km trip takes minutes and 21 seconds and reaches a maximum speed of 431 km/h (267.8 miles per hour). A Maglev train route to Hangzhou is planned to be finished in 2008. Shanghai has two main railway stations (Shanghai Railway Station and Shanghai South Railway Station) and two airports (Hongqiao International and Pudong International). Shanghai’s newly opened Yangshan deep water port is the largest port in the world.
Shanghai is home to many of China’s top and oldest universities, such as Shanghai Jiao Tong University, Fudan University and Shanghai Tongji University. There are total 24 public universities, of which 14 national universities, and 6 private universities.
Source: Wikipedia, Shanghai