FEW CITIES IN THE WORLD evoke the degree of mystique, glamour, contrast and storied history as Shanghai does. In fact, from about 1850 to 1920, the term “shanghai” was considered a shady Western term associated with young men who were plastered with liquor and opium. During their stupor, they would be shanghaied into duty on many of the under-staffed merchant ships sailing from the West Coast of America to the booming Asian trade in Shanghai.

Today Shanghai is the most populous city proper in the world, with more than 24 million people. It even has a Disneyland, just opened in 2016. Besides being a global financial center and transport hub, the sprawling metropolis also boasts the world’s busiest container port. This strategically positions Shanghai as China’s ongoing business investment with the rest of the world.

Shanghai container terminal © CHUYU | DREAMSTIME

Why is Shanghai thriving? According to Daniel R. Joseph, founder, The China Learning Curve, “From the beginning of its development, Shanghai has been a priority for the Chinese government. Many liberalization measures leading to China’s growth either start in Shanghai or are introduced to Shanghai prior to the rest of the country. Aside from helping Shanghai grow, this position makes Shanghai a target area for foreign investment. For Shanghai to continue to develop, China needs to continue to liberalize the economy. More free market rules will be good for all of China and especially Shanghai, which will benefit from service industries and the financial sector.”

Pudong District skyline as seen from the Bund © YUNHAO ZHANG | DREAMSTIME

A scintillating blend of East and West along with modernity and tradition, Shanghai is defined by a sweet juxtaposition of opposites. From the ultra-modern skyscraper view of the Pudong District as seen from the historic Bund to the yesteryear glory of the French Concession, its colonial past contrasts starkly with the financial optimism of China’s plans for Shanghai as a leading business center not only of China but also of the world.

CHECKING IN WITH DANIEL R. JOSEPH
Founder, The China Learning Curve; Consultant, Author and Award-Winning Filmmaker

What’s going on politically and economically in Shanghai?
There are three trends impacting Shanghai. The first is the new free trade zone, the second is financial globalization, and the third is the rise of the service sector. The free trade zone is new, free market-oriented rights and rules for companies. It’s the most significant step currently in China’s ongoing economic liberalization program, and Shanghai was given one of the first of three free trade zones established in the last few years, providing additional incentives for foreign companies to locate in China. Shanghai is China’s financial center; financial deregulation and globalization is a priority for the Chinese government. As that continues, the financial sector will grow and develop, and Shanghai will benefit the most. It’s possible in the long term Shanghai will replace Hong Kong as the financial center. And, having accomplished industrialization, China is now moving to the next phase of development with a focus on the consumer and service sector. Because Shanghai is so large and has an advanced workforce, it is attractive for service-oriented companies to locate in China. If China’s economy continues to develop, all three of these trends will progress and benefit Shanghai tremendously.

What are the strongest businesses and industries?
As the financial center, Shanghai has a large concentration of state-owned enterprises. Many are industrial and automotive. It also has a thriving entrepreneurial and foreign investment sector. It actually has a diverse economic base.

How will new development affect business and investment opportunities?
Many of the rules in the free trade zone have been introduced gradually. The impact has not been huge, yet. If China continues to make it easier to do business in the Shanghai free trade zone, it should have a huge impact on Shanghai over the long term.

Why do people, especially business travelers, visit Shanghai?
Shanghai is China’s most international city. It’s a wonderful combination of history and modernity — there is old Shanghai, particularly interesting, but you have the most modern parts of China available as well. It’s a fantastic mixture of the past and present for anyone who wants to get an idea of what China is all about. Shanghai is the most international of all of China’s cities, so it’s often the easiest to access. It has everything a business traveler needs, with a wealth and variety of hotels, restaurants and resources that make doing business there easy.

What are some common misconceptions about doing business in Shanghai?
In terms of China’s general business environment, it’s a bit of a mixed economy, part government-controlled and part free market, and that can be tricky for people to understand initially. There are cultural differences; you need to take your time and work through them. For example, for a number of reasons, building trust in personal relationships is more challenging in China, but that effort is necessary to build a successful business.

Things to Do in Shanghai

With an abundance of engaging and diverse excursions situated in and around Shanghai, it can be difficult to choose what to do. Here are five of the best:

One of the most attractive cityscapes lies along the curve of the Bund promenade, where panoramic views of skyscrapers dominate the horizon. Not only do photographers flock here — it seems the whole city does, too. From here you can see 26 buildings, all constructed in various architectural styles including Gothic, Baroque, Romanesque, Classical and Renaissance. With this montage of Western-inspired international styles, the skyline is one-of-a-kind in the world.

Yuyuan Garden © SEAN PAVONE | DREAMSTIME

The Oriental Pearl TV Tower is said to look like twin dragons playing with pearls. Standing at about 1,535 feet high, it is China’s second-tallest TV and radio tower while ranking as the sixth-tallest in the world. Try the endless evening buffet at the top of the tower for a commanding bird’s-eye view of the city below. (Food choices completely wrap around the tower on a rotating platform.) Be forewarned: You are up so high you might find yourself amid low-lying clouds.

A classical garden filled with rockeries, ponds and cloisters, the Yuyuan Garden was completed by a Ming Dynasty government officer in 1577. Since then it has undergone many changes. Today it remains a popular place for strolling, with a nearby bazaar offering sundry items for sale. Be sure to bargain.

Like a Western enclave with Asian surroundings, a favorite area of the city is the former French Concession, where French architecture and villa-lined streets rule the day. Take time out at one of the outdoor-seating cafés to people-watch while sipping a beer or wine.

Tianzifang arts and crafts enclave © GUBGIB | DREAMSTIME

A visit to the Shanghai Museum in People’s Square immerses you in Chinese culture, art and antiquities. With more than 1 million pieces in its collection, the museum spans 21 categories to include bronzes, ceramics, calligraphy, painting, jade and ivory works, bamboo and lacquer wares, oracle bones, seals, coins and ethnic minority collections. Expect to find an excellent representation of ceramic pieces from the Qing Dynasty. With a square base and an attached round top with arches, the building itself is an architectural curiosity that symbolically reflects heaven and Earth.

Shanghai Info to Go

Shanghai boasts two commercial airports: Hongqiao International and the modern Pudong International, where most international flights arrive. The airport lies about 20 miles east-southeast of Shanghai. Taxis from the airport to city center cost approximately 170 RMB ($12).

Pudong International Airport was built on reclaimed tideland that once harbored fish farms. The building, designed by French architect Paul Andreu, resembles a seagull in flight, representing the soaring metropolis of Shanghai.

Shanghai: Just the Facts

Time zone: GMT +8
Phone code: Country code: 86 City code: 21
Currency: Renminbi
Key industries: Finance, electronics and information technology, cars, power and large-scale electromechanical equipment, petrochemicals, high-grade steel and biopharmaceutical products. Retail luxury goods are on the rise.

COMING AND GOING
U.S. citizens must obtain a visa prior to arrival and have a passport with at least six months’ validity remaining. The lack of either will result in a fine and immediate deportation. A new offering is the 10-year multiple entry visa, useful for repeated travel or trips to Hong Kong or Macau with returns to China. You must have a valid visa to exit China, and you must leave China before the expiration of the listed duration of stay.

OFFICIAL LANGUAGE
Mandarin

Where to Stay in Shanghai

FAIRMONT PEACE HOTEL Once a favorite haunt of Charlie Chaplin and other celebrities, its location next to the Bund and its Old Jazz Band draw guests looking for Art Deco charm. One of Shanghai’s best values. 20 Nanjing E. Road $$$$

JW MARRIOTT HOTEL SHANGHAI One of the first ultra-high hotels to open in the city, the JW offers an excellent location, with museums and theaters within walking distance. Check out the 60th-floor library for a secret entrance to a balcony. 399 Nanjing W. Road $$$$

THE PORTMAN RITZ-CARLTON Located in the center of Shanghai’s sophisticated shopping street, The Ritz-Carlton attracts local and expat business guests. Shanghai Centre, 1376 Nanjing W. Road $$$$$

Restaurants in Shanghai

M ON THE BUND M on the Bund serves modern European and Middle Eastern dishes in a trendy yet glamorous setting. 20 Guangdong Road, Five on the Bund, 7th Floor $$$$

MR & MRS BUND Named one of the World’s 50 Best Restaurants in 2013, creative French dishes abound, with a value late-night, twocourse set menu offered after 11 p.m. 18 Zhongshan Dong Yi Lu, 6th Floor $$$$

NANXIANG STEAMED BUN RESTAURANT At Shanghai’s most famous dumpling restaurant, a required stop for serious foodies, must-haves include the Shanghai soup dim sum or soup-in-a-bun. For those perplexed how to eat it, it comes with a straw for sipping. 85 Yuyuan Road $$