INDIGENOUS BUSINESS DEVELOPMENT CONFERENCE ^{EMBRACING BUSINESS OPPORTUNITIES}

Shanghai

Shanghai is a bustling port with a pronounced European flavor that lingers from its heyday earlier this century as one of the world's great maritime crossroads. A walk through Shanghai's neighborhoods reveals a surprising mix of European architecture and old Chinese facades.

Located on the coast of the East China Sea, 14 miles from the Yangtze River, Shanghai is the largest city in China with a population of over 14 million. It is one of the few municipalities under the direct control of the central government.

Shanghai began as a tiny fishing village in the 10th century. By the middle of the 13th century a town was established. This developed into a flourishing port, as Shanghai became the largest export center in China, thriving on silk, tea and opium. In the 19th century, Shanghai lured the world's great houses of finance; international entrepreneurs descended on the city, erecting grand palaces of plenty and creating communities resembling the grand capitals of Europe.

In 1842, after the Opium War, Shanghai was forced to open as a free port by foreign colonialism. The town was partitioned into British, French and later Japanese Concessions, still reflected in its downtown architecture. Shanghai was reduced to "a paradise for adventurers." The city became known as the whore of the East, Paris of China and Queen of the Orient with its mixture of gamblers, dandies, tycoons, pimps, missionaries, drug runners and adventurers. The character of Shanghai underwent a major change after the founding of the People's Republic of China. Over the years the negative traits were eliminated - a tremendous achievement. Since 1990 the central government has channeled large-scale investments into Shanghai's burgeoning economy. The changes have been quite staggering, particularly noticeable in the monumental modern building projects.

Some highlights are: The Bund (Embankment), where 240 banks flourished in style between the mid-19th and mid-20th centuries. The Yu Yuan Gardens and Old Town are among Shanghai's premier sights; Pudong New Area, larger than Shanghai itself, with its bustling economic activity; Frenchtown, the former French Concession, is a shopper's paradise É a glittering alternative to the somewhat worn Nanjing Road. The Jade Buddha Temple, one of Shanghai's few Buddhist temples, is built around a six-foot high white jade Buddha. A river trip on the Huangpu River, offers some remarkable views of the Bund and riverfront activity.

Climate

Shanghai is characterized by a warm spring, hot summer, cool autumn and cold winter. During July and September, strong storms with torrential rain become frequent. Summers are hot and humid.