Since 1999, when Australian chef and restaurateur Michelle Garnaut opened M on the Bund, it's become a Shanghai institution. Though it is no longer the Bund's only fine dining establishment--nor the best, in many a self-appointed gourmand's estimation—it remains one of the most pleasant and occupies pride of place in the Bund's turnaround from a moribund museum of Shanghai's lost glory to a vital emblem of the city's dynamic 21st century ascendance. Commanding a stunning view of the colonial-era Bund and Puxi's gleaming towers from atop a classic 1921 Deco building, M is a wonderful place to sample the high life for which Shanghai is, once again, renowned. Reservations are a necessity to get a prime terrace view, but the excellent wine list and a menu that takes advantage of the best in-season produce will please no matter where you sit. Favorites include the slow-baked, salt-encrusted leg of lamb and elegant Pavlova dessert. Try the Glamour Bar upstairs for a swank cocktail before or after dining.