The photo is from a Chinese book, the translated title is “The Bund – History and Vicissitudes”, edited by Lou Rongmin, Shanghai Pictorial Publishing House, circa 1990.
This image is now in the public domain in China because its term of copyright has expired.
According to copyright laws of the People's Republic of China (with legal jurisdiction in the mainland only, excluding Hong Kong and Macao), amended November 11, 2020, Works of legal persons or organizations without legal personality, or service works, or audiovisual works, enter the public domain 50 years after they were first published, or if unpublished 50 years from creation. For photography works of natural persons whose copyright protection period expires before June 1, 2021 belong to the public domain. All other works of natural persons enter the public domain 50 years after the death of the creator.
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