in the boundaries of its subdivisions, especially in the next decade. After 1949, most foreign firms moved their offices from Shanghai to Hong Kong, as part of an exodus of foreign investment due to the Communist victory.
During the 1950s and 1960s, Shanghai became an industrial center and center for radical leftism; the leftist Jiang Qing and her three cohorts, together the Gang of Four, were based in the city. Yet, even during the most tumultuous times of the Cultural Revolution, Shanghai was able to maintain high economic productivity and relative social stability. In most of the history of the People's Republic of China (PRC), in order to funnel wealth to the rural areas, Shanghai has been a comparatively heavy contributor of tax revenue to the central government. This came at the cost of severely crippling Shanghai's infrastructural and capital development. Its importance to the fiscal well-being of the central government also denied it economic liberalizations begun in 1978. Shanghai was finally permitted to initiate economic reforms in 1991, starting the massive development still seen today and the birth of Lujiazui in Pudong
