Shanghai to turn Hongqiao Intl CBD into business hub

Shanghai seeks to develop the Hongqiao International Central Business District into a vibrant central area with global influence and a landmark of reform and opening-up in the new era, with five key tasks set for completion by 2030, according to official sources.

The tasks include expanding opening-up, promoting technological development and strengthening regional cooperation in innovation. The plan also sets nine measurable goals covering the economy, core functions and urban development, Yang Zhengwei, executive deputy director of the Shanghai Hongqiao International Central Business District Administrative Commission, said during a news conference held in Shanghai on Thursday.

"The district will work to build itself into a highland for high-level opening-up and expand its service trade from $17.9 billion to about $23 billion by 2030. It also looks to attract 125 more companies to establish their headquarters there over the next five years, in addition to the 283 corporate headquarters already in the district," Yang added.

According to Yang, the district will develop a collaborative innovation model that combines research and development in the Hongqiao International Central Business District, manufacturing in the Yangtze River Delta and global application.

With a growing number of technology innovation platforms and R&D headquarters, the district plans to add about 100 R&D centers during the 15th Five-Year Plan (2026-30) period, attract global talent and build a hub for specialized and innovative professionals to support the development of the Yangtze River Delta region, Yang said.