Shanghai's Hongqiao expands greatly

Business representatives from the Hongqiao International Central Business District – located in East China's Shanghai – exchanged their ideas on how the Hongqiao International Opening Hub had benefited them at a conference on Feb 24.

In February 2021, the State Council released a framework plan and 29 policies to turn Shanghai's Hongqiao area – which contains the Hongqiao International CBD and parts of neighboring Jiangsu and Zhejiang provinces – into an international opening-up hub to connect domestic and international markets.

The Hongqiao International CBD, as the core area in the hub, has attracted many domestic and international enterprises to settle there owing to its great transport infrastructure, exhibition facilities and splendid business functions.

A bird's eye view of the National Exhibition and Convention Center (Shanghai), which is located in the Hongqiao International CBD. [Photo provided to en.shhqcbd.gov.cn]

InterApp, a Swiss-based company that specializes in valves, set its Asia-Pacific head office to the CBD last year. "The unique location and convenient transportation there greatly contributes to obtaining information, deploying resources and exploring the market, especially with the low operating costs for headquarters," said the company's Shanghai product manager Xie Yun.

Moreover, leading UK exhibition brand Informa Markets settled its regional headquarters in the CBD in 2019. "Hongqiao is actively building a more active, open, international and efficient business and trade center," said Tu Zhengrong, CFO in China of Informa Markets.

Tu added that in addition, the National Exhibition and Convention Center (Shanghai) there met the needs of different sizes exhibitions and its supporting services provided a continuing impetus to develop exhibitions.

Night falls on the Hongqiao International CBD. [Photo provided to en.shhqcbd.gov.cn]

In January, the Hongqiao International Opening-hub added a scientific innovation function there based on previous functions, in a bid to improve the depth of its opening-up.

Elsewhere, SHEMAR Group – aiming to provide a full supply chain solution for the power grid in the world, settled its headquarters in the CBD in 2016. For the company, the biggest attraction was the gathering of core R&D talent, as well as the favorable environment for new materials R&D, said its general manager of Shanghai Wu Jing.

Many others say the CBD is a magnet for innovation. "We regard the scientific innovation function as core, as it is a two-way promotion for investment corporations – and the most intuitive thing is that we can connect to the strongest international resources," said Lu Lu, chairman of Mckin Capital Co Ltd.

Furthermore, local enterprises are also moving to promote the integrated development of the Yangtze River Delta region. For example, plans are for Informa Markets to hold more exhibitions in neighboring Suzhou, Hangzhou and Nanjing and in other Yangtze River Delta regions.