Perhaps the most noticeable landmark of this area is the The Customs House, the only building besides the hotels, whose function has not changed since its inception. This is the building with the familiar clock-tower at its perch. The notes ring to the song "The East is Red," one of Chairman Mao's favorite songs and also a hallmark of the Cultural Revolution. The Customs House, while at one time under British Authority, has been under the command of the Central Government since the 1950's.
The Bund is still the center of Shanghai. In fact, the old HSBC Building, was used until the 1990's as the City Hall, which only recently moved to its location on the People's Square. Even with its central location, due to the age of many of its buildings, many fell into disrepair. Today, however, the government is pursuing revitalization of this historic area, including moving all automobile traffic to a tunnel in order to facilitate a pedestrian friendly river-front. Other activities include renovation of many of the old buildings, including facade repair, and a total renovation of the Peace Hotel.
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