We took off for the Pudong New Area across the Huangpu River. The first stop was the Shanghai Stock Exchange. It was in yet another brand new building, but seemed very tame compared to the NYSE. I found out that trading consists of all limit orders controlled by computers – there are no market markers. The people on the floor are just order takers, not true traders. Next we went to Luijazhui Development Center. They are responsible for the development of a large area of Pudong. Saw a model of the planned area that included large office towers, industrial factories, schools, and apartment complexes. Went to the roof (37th floor) and looked out over Pudong and Shanghai. A lot of the construction is complete but there's still a lot to be done. Took a bus ride around the area and saw the new Shanghai GM plant being built as well as several buildings for Sharp, Whirlpool, Ricoh, and Shanghai Bell (which was flying a Belgian flag for some reason). Grabbed lunch at a hotel and drove across the Nanpu Bridge with its big, spiraling approach ramps back to Shanghai and on to the Bank of China. Had another presentation and question and answer session. The bank officials seemed not to answer our questions very directly. Either something was lost in the translation or it was another example of a bureaucratic, state owed business.

That night we had a reception at the hotel for our corporate hosts and incoming Chinese students. One student took a 20-hour train ride to get here. A USC provost was there, too, and gave a speech that was too long and a bit arrogant. He talked about USC professors going to Beijing to teach management to the Communists. I think Professor Ku smoothed the translation a bit – after all a large portion of our guests were probably communist party members (like the manager of the Bank of China). After the reception I learned to play snooker and then joined a group singing Kareoke in the hotel disco – same songs as the night before but different cheesy videos. Once again, we ended the night with a drunken group version of American Pie.