Shanghai is the largest city in China in terms of population, having over 23 million people with the annual economic growth of 10%. It is one of the largest urban areas in the whole world. Shanghai is located on China's central eastern coast at the mouth of the Yangtze River. The city is administrated as a municipality with province-level status and has an impressive GDP (Gross Domestic Product) of 1.92 trillion CNY or $297 billion.
The city was settled basically as fishing and textile town but its strategic location as port made it qualified to foreign trade and had become the cornerstone of commerce between east and west. By 1930s, the multinational host of finance and business, Shanghai showed acute cessation of foreign investment after the 1949 Communist takeover. ShanghaiIn 1990, economic reforms were permitted in Shanghai and this time the city exploded with intense development and finance. By 2005, the city has become the world's largest port.
Shanghai is a favorable location for tourist's tours, famous for its historical and modern places like the Central Pearl Tower which is considered by many as a cosmopolitan center of culture and design.
Today, the world press and academic researches point at Shanghai as an ideal example of the world fastest-growing economy and in one instance, the future global city.