The Bund

Overview

The Bund, located along the Huangpu River in Huangpu District, Shanghai, is one of the city's most iconic landmarks. Stretching 1.5 kilometers along Zhongshan East First Road, it features a collection of 32 historic buildings that showcase various architectural styles from the 19th and early 20th centuries. The Bund serves as both a cultural heritage site and a major financial hub, symbolizing Shanghai's historical development and modern transformation. The area is renowned for its "International Architecture Exhibition," with buildings representing Gothic, Baroque, Renaissance, and Art Deco styles, creating a unique blend of Western and Chinese architectural elements.

History

Etymology

During the late Qing Dynasty, most of the riverbank outside Shanghai's East Gate was a natural tidal flat. During low tide, water would recede, exposing a large expanse of mudflats, which would be submerged again during high tide. The Huangpu River, Shanghai's main waterway, was wide with swift currents, requiring boats traveling upstream to be towed by ropes. Over centuries, the footpaths of these boat trackers formed a winding trail known as the "towpath," which was the earliest road in what would become the Bund.

In Shanghai's geographical naming conventions, the upstream section of a river is referred to as "li" (里), while the downstream section is called "wai" (外). Before entering Shanghai's old city, there was a small tributary called Shanghai Creek (now disappeared). The Shanghai people used the outlet of this creek as a boundary, calling the upstream Huangpu River bank "Li Huangpu Tan" (里黄浦滩) or "Li Tan" (里滩), and the downstream section "Wai Huangpu Tan" (外黄浦滩) or "Wai Tan" (外滩), which eventually became known as "The Bund."

Development History

In 1843, the British Empire designated the waters off The Bund as an anchorage area for their ships before establishing the Shanghai Concession. On November 29, 1845, the "Shanghai Land Regulations" established the British Concession, allocating 830 acres of land west of The Bund. The British Consulate was subsequently built at Lijiazhuang (now the location of China Travel Service Shanghai Branch at No. 33 The Bund). Soon after, foreign firms such as Sassoon & Co., Inchcape & Co., Boustead & Co., Russell & Co., and Tienchang & Co. emerged along the Huangpu River south of the consulate.

In 1848, the towpath along the Huangpu River was transformed into an 18-meter-wide road, with docks, warehouses, company offices, and shipyards constructed on its eastern side. In 1849, French colonists also established the French Concession in The Bund area.

Between 1854 and 1941, more than ten foreign and Chinese banks opened in The Bund area, establishing it as Shanghai's financial center and earning it the nickname "Wall Street of the East." In 1873, the British Consulate at the source of The Bund was completed, becoming Shanghai's earliest consulate building and the oldest surviving modern building in The Bund's architectural ensemble.

In May 1897, China's first commercial bank was established in The Bund, marking the beginning of modern Chinese financial history. In October 1905, China's first national bank, the Hubu Bank, opened a branch in The Bund. In May 1908, the Bank of Communications established its Shanghai branch in The Bund.

By 1936, Shanghai had 131 Chinese-owned banks and "qianzhuang" (traditional Chinese banks), nearly all concentrated in The Bund area. In 1937, the Bank of China building was completed, the only building in The Bund designed and constructed by Chinese architects themselves. Before the Japanese occupation of the concessions in 1941, The Bund was divided between the British and French concessions, known as "British Bund" and "French Bund" respectively, with the Shanghai Municipal Council and the French Concession Council serving as their highest municipal authorities.

After the victory in the Anti-Japanese War in 1945, China regained control of the concessions, and the road in The Bund was renamed Zhongshan East First Road. In October 1948, the Bank of Communications building was completed, forming the basic skyline and overall layout of The Bund architectural ensemble. After Shanghai's liberation in May 1949, the Shanghai Military Control Committee took over all former capitalist banks, with state-owned banks like the People's Bank of China East China Branch concentrating in The Bund.

In 1979, with China's reform and opening-up policy, various new financial institutions and markets such as the China Foreign Exchange Trade System, Shanghai Gold Exchange, and Shanghai Clearing House were established in The Bund. Many foreign banks returned, and the Shanghai government vacated buildings for the Pudong Development Bank. In April 2007, the Shanghai government approved a comprehensive renovation project for The Bund in preparation for the World Expo. By March 28, 2010, the renovation was completed just before the World Expo opening.

Key Information

Cultural Significance

The Bund represents a unique blend of Eastern and Western cultures, reflecting Shanghai's history as a major international port and financial center. The architecture of The Bund buildings showcases various European styles, including Gothic, Baroque, Renaissance, and Art Deco, earning it the nickname "International Architecture Exhibition." These buildings not only represent colonial history but also demonstrate the cultural exchange between China and Western countries during the late Qing Dynasty and Republican era.

The Bund has been featured prominently in numerous literary works, films, and photographs, becoming a symbol of Shanghai's cosmopolitan identity. It serves as a reminder of Shanghai's transformation from a small fishing village to a global metropolis. The area's night view, with illuminated buildings reflecting on the Huangpu River, has become one of Shanghai's most iconic sights.

Modern Status

Today, The Bund remains one of Shanghai's most popular tourist destinations and financial districts. The "Bund Financial Gathering Zone" was established in 2009, covering an area of 2.6 square kilometers along The Bund, from Suzhou River in the north to the Expo Site in the south. This zone continues to serve as a center for financial services in Shanghai.

The Bund has undergone significant renovations in recent years, including the construction of an underground tunnel system completed in 2010, which alleviates traffic congestion while preserving the historic streetscape above ground. Many of the historic buildings have been repurposed for various uses, including luxury hotels, banks, commercial spaces, and cultural venues.

In 2014, The Bund was officially inscribed on the Shanghai Historic Cultural Protection List, further recognizing its cultural and historical significance. The area continues to evolve while maintaining its historical character, serving as a bridge between Shanghai's past and present.

References

1. Wu, J. (2010). The Bund: Shanghai's Iconic Waterfront. Hong Kong University Press.
2. Shanghai Municipal Government. (2015). Historic Buildings of Shanghai's Bund. Shanghai Cultural Press.
3. Li, X. (2018). Colonial Architecture and Urban Space in Shanghai. Cambridge University Press.
4. Chen, Y. (2013). The Transformation of Shanghai's Waterfront Areas Since 1949. Journal of Asian Architecture, 42(3), 45-62.
5. Wang, H. (2020). Financial Districts in Modern Chinese Cities: A Comparative Study of Shanghai and Beijing. Routledge.