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Pudong, officially known as Pudong New Area, is a district of Shanghai, that enjoys sub-provincial administrative status. It is named "Pudong" because of its location on the east side of the Huangpu river, on the opposite of Puxi, the west side. After its merger with Nanhui District (now defunct) in May 2009, the Pudong New Area comprises the majority of land in eastern Shanghai. Since the beginning of its development in 1990 when plans were first announced, Pudong has become a New Open Economic Development Zone, and has emerged as China's financial and commercial hub. Pudong is home to the Lujiazui Finance and Trade Zone, the Shanghai Stock Exchange, and a skyline that includes the symbolic Oriental Pearl Tower, the Jin Mao Building, the Shanghai World Financial Center and the under-construction Shanghai Tower, reflective of Shanghai and China's rapid economic development.