Professional services upgrade action plan unveiled in Pudong New Area

The Lujiazui Administration Bureau recently released a six-point action plan for enhancing professional services, alongside innovative case studies in the sector.

The plan was unveiled at the 2024 Lujiazui Conference of Global Investment Information and Services, held in the Pudong New Area of Shanghai on Nov 13.

In recent years, Pudong has made steady progress in its innovative international cooperation practices for the benefit of all.

Yuan Yefeng, deputy director of the Lujiazui Administration Bureau, said that over the past two years, Lujiazui has achieved a high degree of industrial concentration in the professional services sector.

Lujiazui Financial City in particular has become a strategic hub for global professional service institutions. It hosts top international market players in fields such as law, finance, consulting, and human resources, including over 200 domestic law firms and nearly 30 representative offices of foreign law firms.

Three of the Big Four accounting firms and 11 of the top 20 national accounting firms, as well as four of the top five global real estate brokers, are all based in Lujiazui.

"We have been rooted in China for 20 years, benefiting from the institutional innovations of the China (Shanghai) Pilot Free Trade Zone. We have provided one-stop consulting services to over 950 enterprises and established strong relationships," said Don Williams, partner of Shanghai Representative Office of Hogan Lovells International LLP.

He praised Pudong's efforts to build a professional services hub, stating, "We hope to continue this cooperative relationship in the future."