The First National Congress of the Communist Party site

This is definitely a great place that most people are unwilling to miss if they want to know more about China’s recent history and culture. The Party site has opened to the public for more than 50 years and has received a huge galaxy of tourists. From the essence the building sounds more like a museum. As a matter of fact, visitors can also find a wax model mock-up of a Party meeting presided by Chairman Mao, which demonstrates a remarkable roll of Chinese history.

Yu Yuan Gardens

There are a great number of classic simply elegant Chinese gardens in Shanghai as decorative urban landscape. Situated in the southwest of Shanghai near the well known waterfront walk of the Bund, Yu Yuan Gardens are the best choice to get relaxed and refreshed after a short walk along the river. With an enriching history of approximately 4 centuries dated back to the Ming Dynasty, it is amazing that Yu Yuan Gardens maintain the same brilliant look as before.

Regardless of the current economic slowdown, the Shanghai banking regulator reinforced the second home requirement rule, reiterating that buyers must put at least a 40% down payment for purchasing a second home. This shows government’s disciplined approach in stimulating the real estate market. In general, the government makes lands available for sale primarily through auctions. The companies that purchase the lands will be responsible for building properties and selling the properties to the public. The residents will hold seventy year long property ownership.

Under the current policies, foreigners are entitled to one property if they have worked and lived in Shanghai for at least a year. Besides the residency requirement, they must purchase property only for their own use and can not lease it to others. Shanghai property transaction centers can make up own rules on trading on the basis of these policies, according to Shanghai Municipal Housing, Land and Resource Administration Bureau, and rules and implementation time could vary by district. Restrictions that were imposed on foreign investors from investing in the first tier cities like Shanghai have not been released, but real estate opportunities in the second and third tier cities or Shanghai nearby cities such as Hangzhou, Suzhou, Wuxi, are either open, or not as restricted. One thing to note is that overseas institutions and individuals that have set up a company in China may purchase property for purposes other than their own use. Regardless of economic and market conditions, Shanghai, with its unique historical background, rich cultures and vibrant growth, continues to attract people from all over the country and all over the world.