Plans for Shanghai have always been ambitious -- nothing short of restoring the city to its former glory as an economic center to rival Tokyo, Paris and New York.
The gleaming metropolis of newly built skyscrapers, exhibition halls and hip bars and restaurants stand as testament to that ultimate goal as well as the frenzied speed of the city's modernization.
Although it may still be several years, even decades away from becoming one of the world's economic and financial hubs, foreign companies are falling over themselves to strike deals in the hub of 13 million.
"The government here had a vision and they've done a really good job," said Angie Eagan, managing director at leading public relations firm Burston-Marsteller.
These days in Shanghai not a week seems to go by without the announcement of another new deal, usually involving a multinational.
On Friday, French bank Credit Lyonnais won regulatory approval to set up the mainland's first joint-venture brokerage, while at the same time US insurer New York Life established a life and health joint venture with China Haier Group.
Unbridled foreign enthusiasm comes after a banner 2002 for the city which saw the government string together an impressive array of big government projects and deals to help secure its eagerly sought super-city status.
Topping the list of recent achievements that has international companies salivating about the city's economic future are the hosting of the 2010 World Exposition, which officials predict will bring the metropolis billions of dollars in investment.
Among other billion-dollar projects the city has won this year include Formula One motor racing beginning in 2004, a Universal Studios movie theme park operational by 2006, and the hosting of the Special Olympics in 2007.
Shanghai already accounts for nearly 20 percent of China's 50 billion dollars in foreign direct investment and it is voraciously looking for more, analysts say.
Several years ago city government officials started to daringly pitch the city as worthy of multinationals' attention -- over other regional centres like Hong Kong and Singapore.
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