Taipei - officially known as Taipei City, is the capital city and a special municipality of Taiwan. Sitting at the northern tip of Taiwan, Taipei City is an enclave of the municipality of New Taipei City. The city is mostly located on the Taipei Basin, an ancient lakebed bounded by the two relatively narrow valleys of the Keelung and Xindian rivers, which join to form the Tamsui River along the city's western border. The city is the political, economic, educational, and cultural center of Taiwan, and one of the major hubs of the Chinese-speaking world. Considered to be a global city, it is part of a major high-tech industrial area. Railways, high-speed rail, highways, airports, and bus lines connect the city with all parts of the island.