Shanghai has undergone a historic transformation since its liberation on May 27, 1949. In the past more than 50 years, fundamental changes have taken place in this once semi-feudal and semi-colonial city. Particularly, since the Chinese government adopted the reform and opening policy in 1978, Shanghai has witnessed marked progresses in its social and economic development, thanks to the distinctive strategies adopted by the city government applicable to the advancement of a megalopolis like Shanghai. Today, Shanghai is the largest economic and transportation center in China. It also enjoys a reputation as a famed historical city in the country. Now, the city is striving to turn itself into one of the economic, financial, trade and transportation centers in the world. It also aims to lead the country in building a well-off society and in achieving the initial modernization.