As part of the city’s World Expo preparations, Shanghai unveiled in late March its renovated and restored Bund.

The revamp is part of an estimated direct and indirect investment of up to 400 billion yuan ($A64 billion) on World Expo related projects to the city which include a new airport terminal and upgrade of Shanghai’s subway services. The three-year project has restored the city’s iconic riverfront to its 1930s colonial splendour. The Bund promenade has been widened by 40 percent while the road has been reduced from 11 lanes to six and a two-level tunnel opened beneath the Bund has reduced traffic by three-quarters.

"The renovation aims to restore the old feel of the Bund, which used to belong to pedestrians and tourists before it gradually gave way to busy vehicle traffic," said Zhou Wei, the head of Huangpu district.

Mr Zhou said Shanghai hoped to make the Bund’s two-kilometre promenade as renowned as the Champs Elysées in Paris.
Known in the early 20th century as the "Wall Street of Asia," the Bund was the birthplace for international conglomerates such as the Hong Kong and Shanghai Banking Corporation and AIG. In line with its reputation as a past and present booming financial zone, the city has also commissioned artist Arturo Di Modica, the creator of Wall Street's bronze "Charging Bull" to design a similar sculpture for the Bund. The Bund is also be home to a new Peninsula hotel and Waldorf Astoria as well as the much anticipated reopening of the 500 million-yuan refurbishment of Shanghai’s legendary Peace Hotel which sits on both corners of Nanjing Lu.