Notes on the Geography of China: Shanghai:The Bund: Photo 5
We've come back to the head of the Bund, or the Waitanyuan. The building in the center was built as the Banque de Indo-Chine in 1914 but is now the China Guangda (Everbright) Bank.
Off to the right is the site of the Shanghai Bund Origin Project, a joint venture of the Rockefeller Group International, which despite its name is actually a Mitsubishi subsidiary, and the New Huangpu Group, controlled by the People's Daily, the government newspaper. It's a big project, calling for the renovation of 14 buildings in the area bounded by Suzhou Creek on the north, the Huangpu on the east, Sichuan Zhonglu on the west and Dianchi Lu on the south; the goal is a mixed-use residential and retail complex. In the increasingly standardized Chinese use of the term, "renovate" probably means retain the facade and rebuild everything behind it. The first stage of the project was construction of a Peninsula hotel.
How do locals feel about it? "Qiang fangzi! Qiang fangzi!" "House robbers! House robbers!" That was the cry from residents forced to move. (Don Lee in Los Angeles Times, 22 July 06)
Back to China: Shanghai:The Bund chapter
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