One of Shanghai’s most significant retail zones and one of the world’s biggest shopping areas is the eastern portion of Nanjing Road, which runs parallel to Fifth Avenue and Times Square. Nanjing District is the capital of Jiangsu Province, which borders Shanghai. The two portions of the current Nanjing Road are Nanjing Road East and Nanjing Road West. It used to be called “Park Lane,” and it stretched from the Bund to He’nan Road. In 1854, it was expanded to Zhejiang Road, and eight years later, to Xizang Road. In 1862, the Municipal Council, which administered the International Settlement, gave it the official name “Nanking Road.” In Chinese, it was frequently called to as
A financial centre, often known as a financial hub, is a site that has a significant concentration of participants in banking, asset management, insurance, or financial markets, as well as venues and support services. Potential participants include financial intermediaries (such as banks and brokers), institutional investors (such as investment managers, pension funds, insurers, and hedge funds), and issuers (such as companies and governments). Trading activity can take place on venues like as exchanges and clearing houses, however many transactions take place over-the-counter (OTC), or directly between participants. Companies that provide financial services are, on the whole, conservative.