The literal translation of the title of this movie is: The New and the Old Shanghai.
Audience needs to know a little contemporary Chinese history first: Shanghai is and was the largest city in China, and it is and was the richest city in China also. Shanghai was one of first Chinese cities opened up to the west and foreign capitals made it most economically advanced place in China. The 1920's and 1930's are the golden era of Shanghai and its booming economy is consisted of both the modern and the traditional (which lasted hundreds of years), and this movie is made to compare the old and new, not only in economical aspect, but also more importantly, in the social aspect.
Audience needs to know a little contemporary Chinese history first: Shanghai is and was the largest city in China, and it is and was the richest city in China also. Shanghai was one of first Chinese cities opened up to the west and foreign capitals made it most economically advanced place in China. The 1920's and 1930's are the golden era of Shanghai and its booming economy is consisted of both the modern and the traditional (which lasted hundreds of years), and this movie is made to compare the old and new, not only in economical aspect, but also more importantly, in the social aspect.