The Bund was the first developed golden section after Shanghai had become an open port. Its location was so eminent and land prices were so high that it was a symbol of strength and prestige to own real estates and set up offices on this piece of land, where an inch of land was worth a thousand pieces of gold. Therefore, many foreign banks tried their best and spared no cost to acquire some room on the Bund for the sake of development and prosperity.

At that time, many foreign banks with huge assets were gathered around the Bund. While the banks of various foreign countries were competing fiercely to establish their status on the Bund, the Commercial Bank of China, the first Chinese capital bank, opened for business on the Bund in 1897. In 1905, the Da Qing Bank, the first national bank in China, started business on the Bund.

By the 1920s, Shanghai had become the financial center in China as well as in the Far East, and the Bund was the core of this center.

After 1928, China's Four Banks (the Central Bank of China, the Bank of China, the Bank of Communications, and the Agricultural Bank of China) set up their headquarters in Shanghai in succession.

Among all these buildings, the former Shanghai and Hong Kong Bank and the Customs Building were designed by a famous British designer. People in Shanghai called them "Sister Buildings." Even today, they still remain an important mark of Shanghai, although now they serve as the home of the Shanghai Pudong Development Bank.

  A place that everyone enjoys

Today, the symbol of Shanghai's identity as a modern city, the Bund is still home to many of the city's hotels, bars, and banks. The nature of the area has not changed much either. Huge western banks and office buildings still dominate the horizon of the Bund, emphasizing the role the city plays as a commercial and financial base.

However, the pleasure of the Bund is that it is not simply a tourist strip but also a place that everyone enjoys. The new Bund with its parking facilities and widened public walk is mostly devoted to people.

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