As China triumphantly completed its long march to join the WTO, Shanghai savoured the moment.
The city, which has long been one of the most open areas of the mainland economy, has much to gain from the successful conclusion to the 15-year drive to enter the World Trade Organisation.
'Beijing celebrated its choice as host for the 2008 Olympics,' said Wang Lingyi of the Shanghai Academy of Social Sciences. 'For Shanghai, joining the WTO is the reason to celebrate.'
While there were no parades or fireworks, there were plenty of quiet smiles. 'This is good news for Shanghai,' said one woman selling drinks on a street corner. 'It will bring us new technology.'
A taxi driver was similarly enthusiastic. 'There should be more business,' he said.
The city's two big official newspapers - the Liberation Daily and the Wen Hui Daily - splashed reports and colour photographs from the WTO meeting in Doha across their front pages. Local television stations along with China Central TV had their own special programmes analysing the impact of the move late into the night.
'This will have a big psychological impact on Shanghai,' Mr Wang said.