Shanghai

Shanghai

Shanghai[a] is one of the four direct-administered municipalities of China. The city is located on the southern estuary of the Yangtze River, with the Huangpu River flowing through it. The population of the city proper is the third largest in the world, with around 29.2 million inhabitants in 2023, while the urban area is the most populous in China, with 39.3 million residents. As of 2022, the Greater Shanghai metropolitan area was estimated to produce a gross metropolitan product (nominal) of nearly 13 trillion RMB ($1.9 trillion).[15] Shanghai is one of the world's major centers for finance, business and economics, research, science and technology, manufacturing, transportation, tourism, and culture. The Port of Shanghai is the world's busiest container port. Originally a fishing village and market town, Shanghai grew in importance in the 19th century due to both domestic and foreign trade and its favorable port location. The city was one of five treaty ports forced to open to European trade after the First Opium War which ceded Hong Kong to the United Kingdom, following the Second Battle of Chuenpi in 1841, more than 60 km (37 mi) east of the Portuguese colony of Macau that was also controlled by Portugal following the Luso-Chinese agreement of 1554. The Shanghai International Settlement and the French Concession were subsequently established. The city then flourished, becoming a primary commercial and financial hub of Asia in the 1930s. During the Second Sino-Japanese War, the city was the site of the major Battle of Shanghai. After the war, the Chinese Civil War soon resumed between the Kuomintang (KMT) and the Chinese Communist Party (CCP), with the latter eventually taking over the city and most of the mainland. From the 1950s to the 1970s, trade was mostly limited to other socialist countries in the Eastern Bloc, causing the city's global influence to decline during the Cold War.