Shanghai was declared open to foreign trade on 14 November 1843, and agreement was reached on the terms under which the foreign settlement would be established. A total of 138 acres along the Huangpu River bank, immediately north of the walled city, became "English Ground" and later the International Settlement. The Chinese official position was that land could not be sold outright to foreigners, but a compromise was reached whereby it was allowed for land to be rented in perpetuity. Balfour first rented a house within the Shanghai town walls for use as the official British consular residence. He left the post of Shanghai consul in 1846, and was replaced by Rutherford Alcock.
