Shanghai translates to “on the sea” or “going to the sea” in English — totally apt, as the city sits right where the legendary Yangtze River meets the Huangpu River and flows into the South China Sea. It was a small fishing village until after the First Opium War (between Great Britain and China, 1839–1842), which ended with a treaty that enabled the British to “carry on their mercantile transactions with whatever persons they please.” The French and Americans soon followed. By the 1880s Shanghai was the largest city in China. The 1920s and early 1930s were Shanghai’s Golden Era as it continued to grow as a cosmopolitan commercial and financial center — often called the “Paris of the Orient.” All that came to an abrupt end when the Imperial Japanese Army bombed the city and later invaded it during World War II. Then came the Chinese Communist Revolution, the rise of Mao Zedong and the establishment of the People’s Republic of China. Capitalism did not return until the late 1970s, the post-Mao era.

PHOTO: © JIXIANG LIU | DREAMSTIME

Today Shanghai is an energetic city of 30.5 million people. The greater metropolitan area comprises 2,448 square miles (eight times the size of New York City’s five boroughs). The city owes its appeal, in no small part, to the spectacular skyline; a vibrant cultural, restaurant and after-hours scene; and a “can-do” attitude which proves important for foreign investors.

According to the American Chamber of Commerce Shanghai, nearly 1,000 multinational corporations have their China or Asia Pacific headquarters in Shanghai, including British pharmaceutical giant GlaxoSmithKline, Tesla, Apple, Cisco, Ford, Honeywell, Dow, Merck and global mining leader Anglo American. In addition, Shanghai is home to nearly 600 foreign- funded research and development centers. California-based Nvidia (currently valued at more than $4 trillion), a pioneer in artificial intelligence computing, announced plans for a new R&D facility in Shanghai to help Nvidia design products that are both competitive in China and compliant with U.S. regulations.

Boasting 43 container terminals, the Port of Shanghai ranks as the largest and busiest port in the world and manages more than 47 million Twenty-Foot Equivalent Units annually. Shanghai’s Yangshan Port is a model of roboticization with fully automated cranes and driverless trucks traversing the sprawling 1,300-square-mile complex. According to a report by the World Bank and S&P Global Market, four of the world’s top 10 most efficient ports are in China. Multinational corporations such as tech and consumer electronics titans Huawei and Xiaomi use the city as a primary gateway for distributing their electronics worldwide.

Shanghai’s three cruise terminals make the city a frequent port of call for Princess Cruises, P&O Cruises Australia, Seabourn Cruise Line, Silversea Cruises, Celebrity Cruises, Royal Caribbean, Oceania Cruises and Holland America Line. Shanghai Port International Cruise Terminal, the largest, situated only 3 miles from city center, can berth medium-sized and smaller luxury ships. Wusongkou (about 15 miles from city center) and Waigaoqiao (about 16 miles from city center) can berth the world’s largest cruise ships.

CHECKING IN WITH KENNETH JARRETT
Senior Advisor, Albright Stonebridge Group, and former President, American Chamber of Commerce in Shanghai

How would you characterize U.S.-China business relations during your term as president, and how does it compare to the present day?
When I started as Chamber president in 2013, “cooperation” was still the defining spirit of U.S.-China business relations. U.S. companies wanted to tap into China’s economic potential, and China wanted to benefit from U.S. investment, technology and managerial expertise. By the time I stepped down at the end of 2018, however, “competition” had replaced “cooperation” as the operative word. There was increasing anxiety in the United States about China’s direction, whether its activities in the South China Sea, cyber espionage or challenges to U.S. global influence. Today the bilateral relationship is defined by a deep feeling of strategic competition and mistrust. Even the economic relationship, once viewed as providing benefits to both sides, is increasingly viewed through the lens of national security. This is most evident in technology, where each government imposed controls that restrict business activity.

How can U.S. companies mitigate risk in the current business climate?
China remains an important market for multinationals, given the levels of consumer spending and the large and expanding middle class. More and more Chinese companies will compete on the global stage, so it’s better for MNCs to be close to it so they will understand what they’re going to face in other markets. Companies increasingly recognize important innovation occurs in China and seek to learn from their Chinese competitors. U.S. companies must be alert to the macro trends in U.S.-China relations and engage actively with both governments to make sure they understand government policies, and government understands what companies are doing. Senior executives should visit China regularly so they have some basis to assess media coverage of developments in China. It is important for corporate headquarters to listen closely to their local teams.

What activities would you recommend for first-time visitors?
Shanghai should be enjoyed on foot and in restaurants. The former French Concession area is a delight with beautiful architecture, tree-lined streets and numerous boutiques. Walking along the riverfront area, the Bund, is bound to leave a lasting impression, and don’t forget to go into some of the magnificent buildings on that stretch, such as the old HSBC headquarters. Visiting Shanghai History Museum, near what was the city’s racetrack, is a good way to learn about the city’s fascinating history.

What are your must-read books on understanding China or U.S.-China ties?
John Pomfret’s The Beautiful Country and the Middle Kingdom is an excellent historical overview of U.S.-China relations that provides a good grounding in the bilateral ties. It’s a history book but very accessible. Jim McGregor’s One Billion Customers remains one of the best books on conducting business in China.

PHOTO: © RODRIGO RODRIGUEZ RUIZ | DREAMSTIME

DIVERSIONS
Start with a trip to the ancient Yu Garden and have tea at the 400-year-old Huxinting Teahouse, in the middle of a serene little lake filled with lotus flowers and koi. Stroll the surrounding old Chinese city with its jade shops and antique markets.

Spend time in the French Concession, particularly around Huaihai Lu, for a sense of 1930s Shanghai. Discover quaint outdoor cafés and tiny noodle shops, and browse the small, high- end boutiques tucked in among old residential buildings. History buffs will enjoy touring Sun Yat-sen’s former residence and the First Chinese Communist Party Congress site.

Recent high-profile museum openings and the launch of multiple art fairs — ART021, West Bund Art & Design and PHOTOFAIRS Shanghai — have embellished Shanghai’s status in the Asian art world. The newly built Museum Mile (along the river in West Bund) features Yuz Museum, housed in a Sou Fujimoto-designed former aircraft hangar, and an outpost of Paris’ famed Centre Pompidou. This fast- growing arts complex includes the venerable ShanghART Gallery. Serious collectors will also want to stop by to visit more than 100 galleries and artist studios.

Catch the oldest jazz band in the world (they hold a Guinness World Record) at Jazz Bar in Fairmont Peace Hotel. The members’ average age is 82, but you wouldn’t know it when they crank up the volume and fast beats of popular 1920s and 1930s tunes.

For a bird’s-eye view of the city, take a taxi (for Uber, acquired by Didi Chuxing in China, download the Didi app) to the Oriental Pearl Tower. Get a window seat in the revolving restaurant.

Late-night party goers and early-morning risers can both find entertainment at the historic Bund. At night hundreds of skyscrapers create a dazzling art show. The 30th-floor balcony of Hotel Indigo’s Char Bar makes an excellent vantage point. As the sun rises over the Pudong skyline, watch pensioners practicing tai chi or taking their birds (swinging in bamboo cages) for a walk.

LODGING
CAPELLA SHANGHAI JIAN YE LI
The urban hotel in a restored Shikumen lane complex built in the 1930s offers 55 villas set in three-story traditional houses with private courtyards and rooftop balconies. Award- winning spa and Michelin- starred restaurant.
480 W. Jianguo Road, Xuhui District, Shanghai
$$$$$

CONRAD SHANGHAI HOTEL
This landmark hotel features 728 guestrooms and suites over 66 floors, an indoor pool with city views, workout room, steam room and sauna. Take advantage of modern meeting facilities and the Executive Lounge with complimentary breakfast and evening cocktails.
789 Nanjing Road E., Huangpu, Shanghai
$$$

W SHANGHAI – THE BUND
Just north of the Bund with stunning views of the futuristic Pudong skyline, W Shanghai offers 374 design-forward rooms, AWAY Spa, FIT gym, and indoor and outdoor pools. Enjoy regional Chinese dishes at The Kitchen Table or YEN.
66 Lushun Road, Hongkou, Shanghai
$$$$

DINING
CANTON 8
Sample classic Cantonese cuisine (especially barbecue dishes), high-quality dim sum and delicious desserts. Set in simple, old-fashioned décor, this is possibly the world’s most affordable Michelin two- starred restaurant. Always packed; make reservations.
63 Runan St., Huangpu, Shanghai
$$$

FU 1015
Choose from 10 opulent private dining rooms in a historical townhouse with a spacious garden. With dishes designed for sharing, one menu highlights Shanghainese classics; the other, hyper-seasonal local dishes. Cigar room. One Michelin star.
1015 Yuyuan Road, Changning District, Shanghai
$$$$$

MR & MRS BUND
In a heritage building, the French brasserie serves big platters designed for sharing in the spirit of Chinese neighborhood restaurants. Steak and seafood top the menu, and there’s an extensive wine list.
The Bund No. 18, Sixth Floor, 18 Zhongshan Road, Huangpu, Shanghai
$$$$$

INFO TO GO
Shanghai Pudong Airport lies about 26 miles from city center. Carriers such as American Airlines, China Eastern Airlines, Delta Air Lines and United Airlines fly non-stop from large cities such as Dallas-Fort Worth (DFW), Detroit (DTW), Los Angeles (LAX), Seattle-Tacoma (SEA) and San Francisco (SFO). Taxis to the city take 45–60 minutes, depending on traffic and time of day, with fare to downtown typically ranging $30–40. Private car service with English-speaking drivers ranges $50–$70. Uber (download the Didi app) costs about $25.

JUST THE FACTS
Time zone: GMT+8
Phone code: Country code: 86 City code: 21
Currency: Yuan, also called renminbi
Key industries: Technology, information technology, financial services, hospitality, pharmaceuticals

COMING AND GOING
U.S. citizens must have a passport valid for the duration of the stay and a visa; submit visa applications one to two months in advance of travel. For visitors, including cruise passengers entering through the Port of Shanghai, China expanded the 144-hour visa-free transit policy, allowing people from 55 countries to enjoy 10 days of travel to select areas of the country without applying for a visa beforehand.

OFFICIAL LANGUAGE
Mandarin Chinese, but most hospitality employees speak basic English.