by Christopher Pitts
September 2007

MEET THE CITY

China’s high-powered economic engine, Shanghai is an entrancing blur of neon lights, futuristic chic and nonstop action. Some make comparisons with Hong Kong, others with Manhattan. However you see it, Shanghai is clearly on its way to reclaiming its century-old status as the financial hub of East Asia. The city’s stratospheric rise from drab communist factory town to booming international metropolis has been fueled by billions of dollars in foreign capital, a decade-long run of double-digit economic growth and a complete overhaul of its infrastructure.

In 2005, Shanghai surpassed Singapore as the world’s busiest port; the majority of Fortune 500 companies have chosen Shanghai as their China headquarters; and, above all, this is the leading industrial center of the world’s fastest-growing economy. Doing business in China can nonetheless be summed up in one word: guanxi (pronounced “gwahn-she”), which means “connections.” Having a large network of guanxi is vital to success. To do this, you need three things: high-quality business cards, a large supply of gifts from back home and a willingness to go to banquets—that’s where most deals are generally sealed.

Where to stay

Generally speaking, the higher you stay, the better your status. In Pudong, the city’s financial district, the Grand Hyatt (88 Century Avenue, +86 21 5049 1234,shanghai.grand.hyatt.com) tops the hotel list with its world’s highest lobby, located on the 54th floor of the soaring Jinmao Tower. Stare up the spiraling atrium, which spans another 33 stories, or out one of the enormous windows for jaw-dropping views. For the most memorable stay, reserve a corner room.

Across the river in Puxi, you’ll find the new Le Royal Meridien (789 East Nanjing Road, +86 21 3318 9999, starwoodhotels.com/lemeridien), a sleek, postmodern exclamation point towering above downtown People’s Square. Art deco rooms boast luxurious furnishings, high-tech gadgetry and more unbelievable views of the city.

If skyscrapers leave you cold, head to the leafy French Concession, where you’ll find the more intimate Ruijin Guesthouse (118 Ruijin No. 2 Road, +86 21 64725222, shedi.net.cn/outedi/ruijin), a throwback to the city’s colonial days. Set on a 1930s estate with lush gardens and manicured lawns, rooms in the Ruijin are located in a series of renovated villas featuring period furnishings.

Where to dine

The Shanghai restaurant scene has been heating up over the past several years, with various internationally acclaimed chefs (like Jean-Georges Vongerichten) all vying to outdo each other. But despite all the big names, the best meals are still found in local restaurants, such as Shanghai Uncle (Bund Center, 222 East Yan’an Road, +86 21 6339 1977). Delicacies here include lion’s head meatballs, smoked ginger fish and mouthwatering crispy garlic veal.