SAIC, better known as the parent of Shanghai Automotive, is a Chinese state-owned enterprise.

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Then, there are rumors that the institution, once known as the Hongkong and Shanghai Bank, will also sell its half interest in HSBC Life Insurance, which laid off 130 sales staff recently.

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Known for grandiose projects such as the Shanghai World Financial Center, China's tallest building, which opened in 2008.

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"But Shanghai has always been known as the 'Paris of the East' and, even before that, the city was important in terms of trade, " he said.

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Also known as hairy crabs, they are a beloved delicacy to Shanghai residents.

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They range from Hong Kong's 118-story International Commerce Center, home to a penthouse infinity pool and one of the world's highest hotels, to the slightly taller Shanghai World Financial Center, which is known as "the bottle opener" for the trapezoidal gap at the top.

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Shanghai GM, as the joint venture has come to be known, has since gone on to become one of the leading passenger car companies in China.

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These include The Principal, which serves creative, modern European dishes under the watchful eye of a chef who hails from the Canary Islands, steak haven Strip House, and Zhejiang Heen, which delivers lauded homestyle renditions of signature dishes such as braised pork belly and squid from Zhejiang, a coastal Chinese province south of Shanghai known for its tender, fresh seafood.

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