It's like I've seen those three vertical "wheat stalks" on top, but cannot place them. The drawing resembles the Empire Mansions, but as far as I know, that was designed by the Chinese architect Y. C. Huang (黄元吉) for Kyetay Architects and Engineers (凯泰建筑师事务所). As the moment I cannot quite place the building, and I wonder if it was ever built. It looks like a typical Shanghai late art deco.
If the buildings at the edges of the picture are anywhere close to being true to life (and already built), then this project could have been intended for the northwest corner of
John Meckley on flickr
UPDATE: as I was corrected by friends from Historic Shanghai, the building on the photo is at the northwest corner of Shaanxi Road and Yongjia Road (not Nanchang Road). Then there is a (weak) possibility the archtectural drawing was a plan for the development of the southeast corner of that intersection, where a new high-rise stands now:
It is also possible the drawing is an early design for the Astrid Apartments. If this is so, the resulting building ended up with eight floor instead of four, but retained a series of vertical protruding sections breaking up the facade. Also, its right-hand side is longer than the left-hand side, just like the drawing: