Lujiazui is located on the Huangpu River in Pudong New Area, Shanghai, facing the Bund across the river. It is the headquarters of many multinational banks in Greater China and East Asia, and it is also one of the most influential financial centers in China.
During the Yongle period of the Ming Dynasty, the Huangpu River system was formed. After the river joins Wusong River from south to north, it turns eastward and forms a mouth-shaped alluvial beach on the east bank. Shen Lusheng, a bachelor of Hanlin Academy in Ming Dynasty, died here, so he called this beach Lujiazui.
1990, the State Council, China announced the development of Pudong and the establishment of the first national Lujiazui financial development zone in China. Foreign financial institutions engaged in RMB business must set up offices in Lujiazui Financial and Trade Zone, so many foreign financial institutions have set up offices in Lujiazui, among which foreign banks engaged in RMB business include HSBC, Citibank, Standard Chartered Bank, DBS Bank and Bank of East Asia.