Shanghai is earning a reputation as the "Paris of the Orient," thanks to its position at the forefront of China's burgeoning economic and social development. Besides being home to regional offices from over 500 international corporations and hosting more than 600 large-scale exhibitions and international conferences annually, Shanghai is also culturally dynamic. Exciting world-class events such as the Formula One Grand Prix, ATP Masters Cup-Shanghai, the Shanghai Golden Grand Prix, Shanghai Tourism Festival, China Shanghai International Arts Festival, Shanghai Biennale, Shanghai International Film Festival and Shanghai International Marathon drew nearly 6 million overseas visitors to Shanghai in 2006.
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