Line 1 is a north-south line of the Shanghai Metro. It runs from in the north, via to in the south. The first line to open in the Shanghai Metro system, line 1 serves many important points in Shanghai, including and Xujiahui. Due to the large number of important locations served, this line is extremely busy, with a daily ridership of over 1,000,000 passengers. Generally, the line runs at grade beside the Shanghai–Hangzhou railway in the south, underground in the city center and elevated on the second deck of the North–South Elevated Road in the North. The line is colored red on system maps. History The required investment for the project was US$620 million (including domestic supporting RMB investment). In August 1988 and May 1989, the program of loans to the Federal Republic of Germany, France and the United States was approved by the State Planning Commission. The Federal Government of Germany has a loan of 460 million marks, an annual interest rate of 0.75%, a committed rate of 0.25%, a repayment period of 30 years, and a grace period of 10 years. French mixed loan of 132 million francs, of which 54% of government soft loans, annual interest rate of 2%, loan repayment period of 19 years, grace period of 11 years; export credit 46%, annual interest rate of 8.3%, loan repayment period of 10 years, grace period of 22 month. The US loaned USD 23.18 million, of which 45% were government grants and 55% were commercial loans. The annual interest rate fluctuates, the loan repayment period is 10 years, and the grace period is 5 years. With the start of construction of the project, the cost has also increased. In August 1993, the budgetary estimate was adjusted to 3.974 billion yuan, of which domestic supporting funds increased by 1.086 billion yuan. In January 1995, the total budget was adjusted for the second time to 5.39 billion yuan, of which 3.961 billion yuan was domestic supporting funds. May 28, 1993 - The first long section of the line, from Xujiahui to Shanghai South Railway Station (formerly known as Xinlonghua), opens. April 10, 1995 - The entire long original line, from Shanghai Railway Station to Jinjiang Park, opens. December 28, 1996 - Separate southern section from Jinjiang Park (formerly known as Hongmei Road South) to Xinzhuang opens. Northern extension continues to operate to Shanghai Railway Station. July 1, 1997 -