The article describes exciting recent finds of Middle Shang remains in the Yangtze River valley. Bronzes and other artifacts correspond very closely to what is known of Middle Shang sites to the north, in Honan, making this a southern outpost of full-fledged Shang civilization. Excavations undertaken in 1974 uncovered part of the city wall, architectural remains within the wall, and various burials outside the city. The present article describes these finds, reviews the subject of pre-Anyang bronze vessels in light of the new finds, and offers a number of more general comments on the nature and significance of the Shang city. Pottery and bronze artifacts in the burials can be divided chronologically into two phases, the early and later parts of the Upper Erh-li-kang phase. The bronze alloys also differ between the two periods, the later vessels having more lead; this pattern, however, is probably fortuitous since great compositional variability has been found in early bronzes. Evidence of bronze casting was found at the site. The abandonment of P'an-lung-ch'eng seems to coincide with the rise of local centers on the periphery of Shang civilization, and with the shift of the Shang capital from Chengchou north to Anyang. The article contains 48 illustrations, mostly of bronze vessels, and appendix listing the contents of the graves.