Believe the hype?

With glitteringly remodeled colonial-era buildings facing the science-fiction Legoland of Pudong just across the river, China's showcase metropolis combines super-modernity with a deep sense of nostalgia. Yet the gnawing question remains: how much of the new Shanghai is image, and how much is reality? - Anna Greenspan

Housing boom loses some steam
After building more skyscrapers since 1990 than there are in New York, it's perhaps not surprising that Shanghai's real estate market has deflated. The price frenzy which peaked last summer has eased into a rare buyer's market, with developers actually offering incentives to move properties.

Slowing delta lures Taiwanese
The Yangtze delta region, with Shanghai as its hub, lost momentum in the last quarter of 2005 due to a slowdown in the property market. But the region retains its allure to Taiwan investors tired of the Pearl River delta region.

The world's largest cargo port
Shanghai is now the biggest cargo-handling port in the world, although Singapore is a bigger container port. The opening of the mammoth Yangshan deep-water port was a crucial step for Shanghai.

Film industry looks for sequel
Before 1949, Shanghai's film industry was second only to Hollywood. But its recent history has been bleak, with government studios producing boring propaganda films, and a flight of talent to Beijing. A tiny group of independent filmmakers is trying to bring back the glory days, but there's a long way to go. - Ilan Carmel 

Services seen as key to future
With tertiary industries such as logistics, hospitality and finance already accounting for 50% of Shanghai's annual GDP, the city authorities are engaged in a variety of efforts to boost the service sector further.

Manufacturing lifts its act
Despite the growing importance of services, manufacturing remains the pillar of Shanghai's economy; nine of the top 10 firms in 2004 were industrial. But emphasis is shifting to high-end products, with the "new materials" and flat-panel display industries earmarked for accelerated development.