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Shanghai’s growing prosperity has brought a greater sense of pride and cultural awareness among the local population, quite similar to that experienced by Japan in the early 1970s.

There is now an abundant supply of offices and apartments in Shanghai, which means much better value and choice for tenants.

China’s pledge not to devalue its currency has helped improve the country’s international reputation, but the economic impact of a strong yuan is only just starting to become apparent.

Under a new initiative, British firms are giving practical help to Chinese state enterprises as they set about structural reform.

The reform of state enterprises will have afar-reaching impact on the Chinese economy, writes David Lie of China Concept, but investors should be careful in evaluating the opportunities.