Shanghai Financial Center & Business Travel Guide

Please click on each address along the side of the map below or click on the markers on the map
(There is is also a more detailed description below the map).

Shanghai is located on the east central coast of the People's Republic of China at the Yangtze River Delta (which empties into the East China Sea along the northern edge of the city). The city is also bordered on the north and west by Jiangsu Province and on the south by Zhejiang Province.

The city has three main areas:

Old City (Puxi)

The former European Concession Area

Pudong

The former European Concession Area is the location of The Bund / Zhongshan Lu, which is the broad street that runs along the bank of the Huangpu River and is the location of several western-style buildings constructed in the early 1900s.

Most financial-related companies are located in the Shanghai Pudong New Area. In 1990, this part of Shanghai was granted Special Economic Zone status, which lead to the development of the area. The Shanghai World Financial Center, which is located in Lujiazui Finance & Trade Zone in Pudong. The World Financial Center located along Shiji Daidao (Century Avenue) is 1,614.2 feet / 492.0 meters, and it is the third tallest building in the world, and the tallest building in the People's Republic of China. The Jin Mao Tower (420.53 meters) is located adjacent to the World Financial Center. The Oriental Pearl Tower is located just west of the two buildings and overlooks the Huangpu River. The area is accessible by Shanghai Metro Line 2 Lujiazui station, which is the first station in Pudong.

There are several islands located just off the cost of Shanghai, which include Dajinshan Island, Xiaojinshan Island and Fushan Island.

The Port of Shanghai / Yangshan Deep Water Port is one of the busiest commercial / container port operations in the world. The Yangshan Deep Water Port is located on Yangshan Island, which is accessible by Donghai Bridge.

In 2010, the city was the host of the World Expo Shanghai 2010, which ended October 31, 2010. Only five of the international expostition pavilions will remain, and the 1,305 acre site is scheduled to be redeveloped into a mixed-use, sustainable urban project that will include commercial / retail space, residential buildings, conference / convention center, pedestrian zone and parks. The project is also scheduled to include dedicated solar and wind power generation facilities, and construction is to include recycled, and new environmentally friendly, materials.

Airport Access

There are 2 airports that service Shanghai:

Pudong International Airport (PVG), which provides international service.

Hongqiao International Airport (SHA), which provides domestic service and international service primarily to Haneda International Airport (Tokyo, Japan) and Gimpo International Airport (Seoul, South Korea).

Facilities at Pudong International Airport consist of Terminal 1 and Terminal 2, and has the capacity to accommodate 40 million passengers a year. The airport has also become a very important hub for cargo traffic.

There are several options to travel between Pudong International Airport and central Shanghai:

 

Taxi - the trip by taxi is subject to a meter charge (plus tax and luggage charge).

 

Subway - Shanghai Metro Line 2 has recently been extended to Pudong International Airport.

 

The Maglev Train (magnetic levitation) high speed rail line operates from Pudong International Airport to Longyang Road Metro Station (approximately 30 km), which connects to Metro Line 2. The station is located between Terminal 1 and Terminal 2, and operated between the hours of 7:00am to 9:00pm. Trains depart every 20 minutes. The Maglev Train accelerates to 350 kmh (220 mph) and then begins to decelerate: the trip is approximately 10 minutes to cover 30 km.

 

Bus - Departure stop is located immediately outside of the exit gate. There are several bus lines that cover different routes within Shanghai thus one needs to know which bus route goes closest to their destination. The long distance buses are located outside of Exit 18.

Facilities at Hongqiao International Airport consist of Terminal 1 and Terminal 2.

There are several options to travel between Hongqiao International Airport and central Shanghai:

 

Subway - Shanghai Metro Line 2 has a station at Terminal 2.

 

Bus - the airport shuttle connects to Jing'an Temple Subway stop (Shanghai Metro Line 2).

Additional international airport access to the People's Republic of China is to Beijing Capital International Airport, Guangzhou Baiyun International Airport, Shenzhen Bao'an International Airport, Chengdu Shuangliu International Airport, Hong Kong International Airport (Chek Lap Kok), Xiamen Gaoqi International Airport.

Passenger Train Service

There are three rail road stations located in Shanghai:

Shanghai Railway Station (also referred to as New Railway Station), located at No. 303 of Moling Road in Zhabei District. It is the largest passenger railway station in the city and is serviced by Shanghai Metro Lines 1, 3 and 4. The station has a stop for Airport Bus No. 5.

Shanghai South Railway Station, located at No. 289 of Old Humin Road in the south Xuhui District of Shanghai. This station provides daily train services between Shanghai and cities to its south such as Hangzhou, Jiashan, and Jinshan. There are also bullet trains to Hangzhou and Nanchang. The is serviced by Shanghai Metro Lines 1 and 3.

Shanghai West Railway Station, located at No. 1 of Taopu Road in Putuo District. this station provides train service between Shanghai and other cities such as Yantai, Zaozhuang, Hengyang, Ganzhou, Nanjing, Hangzhou, and Ningbo.

Shanghai Metro Subway System

The Shanghai Metro rapid-transit system and elevated light rail line has ten lines: 1, 2, 3, 4, 5, 6,7, 8 ,9 and 11. Line 1 operates in a north / south direction, and includes stops Shanghai Railway Station, People's Square, and the French Concession. Line 2 operates in an east / west direction.

Lines 1, 2, 3, 4, 8 and 9 are operated by Shanghai Shentong Metro Operation Co. Ltd., and lines 5 and 6 by Shanghai Modern Rail Transit Co. Ltd. (SMRT).

The Shanghai Metro system operates between the hours of 5:30am to 11:00pm. stations can be identified from the street by the large red "M". Each numbered line is also color coded. When on the train, stops announced both in Chinese (Mandarin) and English. Within the sysem stops and direction signs are also included in Pinyin (Roman alphabet spellings of Chinese place names).

Shanghai Public Transportation Card (SPTC)

Taxis

Taxis may be hailed from the street; fares are per kilometer. Please be advised that taxi drivers do not speak English and one must either be able to pronounce their destination accurately or have it written down in Chinese characters.

Bus Transportation

There are two bus stations in Shanghai:

Qiujiang Lu Bus Station

Hengfeng Lu Bus Station

Street Addresses

The Chinese (Mandarin) word for street is either Lu or Jie. Street will also have an additional name: Dong (East), Xi (West), Bei (North), Nan (South). Although it may be lost on the foreign traveler, streets running from east to west are named after other cities located in China while the streets running from north to south are named after the various Chinese provinces.

Zhongshan Dong Yi Lu, also referred to as The Bund, is the broad street that runs along the west bank of the Huangpu River. The street extends from the Baidu Bridge, which is at the connecting point of the Huangpu River and the Suzhou Creek, to the East Jinling Road and winds a 1500 meters (less than one mile) length. Two major streets run perpendicular from the northern section of >Zhongshan Lu: Nanjing Dong Lu and Beijing Dong Lu.

The Old City is encircled by a ring road known as Renmin Lu along the north and Zhonghua Lu along the south, The Old City is also intersected from north to south by Henan Zhong Lu (which extends all the way north up to both Nanjing Dong Lu and Beijing Dong Lu). The Old City is also intersected east to west by Fuxing Dong Lu.

The main street that runs the length of the Pudong New Area is Shiji Dadao (Century Avenue).

Shanghai Life

The Brookings Institute quarterly MetroMonitor report released December 2011 indicates that Shanghai is the fastest growing metropolitan area in the world.   www.brookings.edu/reports/2012/0118_global_metro_monitor.aspx

Oficially, there is no tipping allowed in the People's Republic of China. However, tipping is a custom that has been introduced to Shanghai and is becoming an increasingly accepted practice.

Xiao chi is a type of small portion food dish (like tapas) of noodles, stuffed buns or dumplings, and restaurants that serve these dishes are know as xiao chi dian.

There are also restaurants that specialize in Western cuisine, and there are also well-known Western fast food franchises.

Shanghai / People's Republic of China Economy 2011 / 2012

Shanghai has purposefully been developed and positioned as a financial and commercial center of the People's Republic of China. A substantial investment has been made in the metro system, ring road access, light rail, and commercial real estate, and the metropolitan government and national government activiely promote foreign investment in the city. In 2008, the Shanghai / Pudong government issued Circular 301, which allows the city government to refund a substantial portion of the income taxes the municipal government collects from individual taxpayers back to a specific taxpayer (in a specific employment category) in order to lower the individual marginal tax rate, which can be as high as 45.0%.

The People's Republic of China has been undergoing reform over the past 30 years with the most observable change being the shift from a centrally planned economy to the continued development of a market-based economy. The nation's manufacturing infrastructure and position in international trade has rapidly increased since its admittance into the World Trade Organization (WTO) in 2001, which increased access to markets and lowered tariff barriers.

The relationship with the United States is very important for both nations. The People's Republic of China is an important source of low cost manufactured products for U.S. consumers. As of 2008, China provides approximately 10.0% of the consumer products imported into the United States (everything from electronic products to furniture to textiles). However, the result has been that the trade deficit between the People's Republic of China and the United States has increased substantially in favor of China: increasing from approximately $50 billion in 2000 to $250 billion by 2008 (in March 2010, the deficit for that month was $16.9 billion, the largest deficit with any other single nation). The Peoples Republic of China has also become the second largest purchaser of U.S. Treasury debt after Japan, holding approximately $493 billion by the end of 2007. The growth in the nation's economic strength has aslo resulted in a corresponding growth in international affairs, and and increase in military spending. The relationship between the two nations is often challenged over the United State's comments and actions related to meeting with the Dalai Lama and human rights in Tibet (and in the western province Xinjiang), sales of advanced weapons to Taiwan, internet access and censorship, and global climate negotiations. The People's Republic of China's government has proven that it will not allow Western nations to pressure them, especially with regard to the revaluation / free exchange of the Yuan.

The greatest challenge for the People's Republic of China's leadership in instability. The nation has a poulation of 1.3 billion persons and over the past several years has experienced the predictable demographic pattern of citizens relocating from the countryside to the cities in search of jobs. The working age population amounts to approximately 977 million persons as of 2010. The nation needs to maintain annual GDP growth rates of approximately 8.0% in order to create sufficient employment opportunities for new entrants into the workforce. In the first half of 2010, there were several high profile strikes by workers at factories in the Shanghai area and in Shenzen where workers sought, and received, wage increases. It is unclear as to whether this is a growing, long-term trend that will improve worker's lives but increase operating expenses in China. In 2008, the nation passed a law on the behalf of workers which required companies to provide employees insurance, compensate workers for overtime with double the wage rate for hours worked, and provide a severance payment based on the length of time of employment with the company. Within china, the minimum wage for workers is set by provincial and metropolitan governments, not the central government. The minimum wage has been increasing annually. However, in 2012, companies beagn hiring temporary workers through intermediary companies (referred to as dispatchers) in order to avoid higher minimum wage costs and benefits.

In spite of the international economic recession, for the 12 months ending March 31, 2010, the GDP of China increased by 11.9% as the result of a $586 billion stimulus package initiated in the fourth quarter 2008. Inflation was 2.4%. The government also increased central bank reserve requirements in the first quarter 2010 for the nation's banks in order to control loan volume (there is the possibility that the real estate sector has been overbuilt; CB Richard Ellis / CBRE real estate advisement services reported a 22.4% vacancy rate for the Beijing office building market in the Third Quarter 2009). In February 2010, the People's Bank of China increased the reserve requirement for domestic banks in order to control loan growth. In August 2010, media reports indicated that the economy of the People's Republic of China had become the second largest in the world in the 2nd Quarter 2010, with the nation's nominal quarterly GDP increasing to $1.337 trillion, and supplanting Japan, which reported a nominal quarterly GDP of $1.288 trillion in the 2nd Quarter 2010.

The People's Republic of China has a high domestic savings rate (estimated at 38% by the OECD and World Bank) and correspondingly low domestic demand. Economic growth is highly reliant upon exports, and during 2009, the People's Republic of China became the largest exporter of goods in the world.

The People's Republic of China is increasingly becoming more reliant upon imported petroleum supplies. In 2009, the nation imported approximately 50% of its petroleum product requirements.

In June 2010, the Government of the People's Republic of China publicly indicated that they would allow the Yuan to begin to appreciate in relation to other major trading currencies.

Northern China has been experiencing severe drought conditions for the past several years, which has curtailed water supplies in some areas and has severely affected the wheat, corn and cotton crops.

The Chinese National Bureau of Statistics indicates that Shanghai workers actually earn a lower average, private sector urban wage of US $3,680 per year compared to Beijing ($4,331), Tanjin ($3,793), Zhejiang ($3,696), and Jiangsu ($3,695). However, Shanghai still has the highest per capita GDP (US $12,012) compared to Beijing ($11,991), Tanjin ($11,525), Jiangsu ($8,343), and Zhejiang ($,8165).

  Shanghai Commercial Real Estate

In May 2010, CB Richard Ellis (CBRE) indicated that out of the top 50 international office markets, Shanghai (Pudong) had the 33rd highest office space occupancy cost per square foot: $60.14 per sq. ft in the 1st Quarter 2010. Shanghai (Puxi) was listed as the 43rd most expensive office rent location at $52.96 per sq. ft. At the time of the report Shanghai had a minor increase in office rents compared to the previous quarter. However, over the past 12 months the rents within the Pudonf area had declined 8.7% due to an abundance of available space, which was the result of recent construction.   www.cbre.com/EN/Research/Documents/gormay10.pdf

  Shanghai Residential Real Estate

The China Real Estate Index System (CREIS) indicates that in response to government-imposed buying restrictions, property values during 2011, and into the 4th Quarter of 2011, declined. Government measures included increasing the down payment for first-time buyers’ mortgages to 30% from 20%, the downpayment for second homes was increased to 60% from 50%, and mortgages for third home purchases were prohibited. Increased property taxes were introduced in Shanghai during 2011. The People's Bank of China (PBOC) tightened lending but increasing base rates, which resulted in an increase in mortgage rates: in June 2011, the weighted average interest rate of home loans was at 6.83%.

The Global Property Guide’s latest survey of house prices in Shanghai during the past year to the end of June 30, 2010, indicates a 5.78% increase property values. www.globalpropertyguide.com/press-relations/Global-house-prices-booming-in-Asia-a-mixed-bag-in-Europe-and-the-US

Information Resources

China Banking Regulatory Commission (CBRC)   www.cbrc.gov.cn/

China Insurance Regulatory Commission (CIRC)   www.circ.gov.cn/

China Securities Regulatory Commission (CSRC)   www.csrc.gov.cn/

National Bureau of Statistics of China  

People's Bank of China   www.pbc.gov.cn/english/

Shanghai Municipal Administration of State Taxation   www.csj.sh.gov.cn/gb/csj/eng/node5363/userobject7ai35682.html

Shanghai Municipal Commission of Commerce   www.scofcom.gov.cn/sfic/index-en.jsp

State Administration of Foreign Exchange   www.safe.gov.cn/

Bank Addresses

Please also see the Directory of Banks in China

Bank of America, 17/F, AZIA Center, 1233 Lujiazui Ring Road, Shanghai 200120

Bank of China, 23 Zhingzhan Dong Yi Road, Shanghai

Bank of Montreal, Suite 3208, Haitong Securities Tower, 689 Guangdong Road, Shanghai 200001

Bank of Tokyo-Mitsubishi UFJ, 20/F, Azia Center, 1233 Lujiazui Ring Road, Shanghai 200120

BNP Paribas (China) Limited, 25/F, Shanghai World Financial Center, 100 Century Avenue, Pudong New Area, Shanghai 200120

China Development Bank, Shanghai Baranch, 68 Puming Road, Shanghai

China Everbright Bank, 29 Zongshan Dong Yi Road, Shanghai

China Minsheng Bank, 48 Weihai Road, Shanghai, 200003

Citibank, Citigroup Tower, 33 Hua Yuan Shi Qiao Road, Lu Jia Zui Finance and Trade Area, Shanghai 200120

Deutsche Bank, 18/F, 1233 Lujiazui Road Ring, Pudong District, Shanghai 200120

Hang Seng Bank (China) Ltd., 27/F Shanghai Stock Exchange Building, 528 Pudong South Road, Shanghai 200120

HSBC, 42/F, HSBC Tower, 1000 Lujiazui Ring Road, Shanghai 200120

Hua Xia Bank Branch, 256 Hua Xia Bank Tower, Pudong South Rd., Shanghai 200120

Industrial Bank Co., Ltd., 168, Jiangning Road, Shanghai

JPMorgan Chase Bank, 41/F, Park Place, 1601 Nanjing Road West, Shanghai 200040

Mitsubishi Bank, 1207 Ruijin Building, 205 Maoming Nan Lu, Shanghai

Scotia Bank, Unit 2904, Jin Mao Tower, 88 Century Boulevard, Shanghai 200121

State Bank of India, 4206, K.Wah Centre, 1010, Huai Hai Zhong Lu, Shanghai 200031

United Overseas Bank Ltd., Jin Mao Tower, 88 Century Boulevard, Shanghai

After Hours

The Jinmao Tower in the Lujiazui Finance & Trade Zone in Pudong has an observation deck on the 87th floor, which is open daily daily to visitors.

The Shanghai No. 1 Department Store is located on Nanjing Dong Lu.

Nanjing Lu is the traditional shopping street along with Huaihai Lu in the French Concession.

Many food carts can be located along Huanghe Lu and Wujiang Lu.

The Peace Hotel (and the Peace Hotel Bar and jazz band) is located at the intersection Nanjing Dong Lu and The Bund.

People's Square (Renmin Guangchang) is located approximately 2 km west of The Bund at the intersection of Xizang, Nanjing and Yan'an streets.

Zhujiajiao is an ancient town located at the bank of the Dianshan Lake in Qingpu District. The town, with a history of over 1,000 years, is the most well-preserved ancient town in Shanghai and has been known as "Venice of Shanghai" for its simple but attractive appearance typical of towns in the south part of China. In 1991, it was designated by the State Council as the "Well-Known Chinese Cultural Town".