Ulaanbaatar is the capital and largest city of Mongolia, located in the Tuul River valley and surrounded by mountains. The population of Ulaanbaatar is over 1.4 million, accounting for about 50% of Mongolia's total population. It has historically moved locations along Mongolian rivers but was permanently settled at its current location in 1778. Ulaanbaatar is the cultural, political, and financial center of Mongolia and has developed into a modern city with numerous tall buildings in recent decades.