Shanghai has unveiled a set of initiatives aimed at transforming the Hongqiao International Central Business District (Hongqiao International CBD) into a hub for productive internet service platforms, with similar support extended to areas like Pudong New Area, Baoshan district, Putuo district, and Lingang New Area.
These measures went into effect on Jan 15, 2024, and will last for three years. They seek to boost the development of internet service platforms that drive high-quality growth.
Plans are for Hongqiao International CBD is to harness the Yangtze River Delta's integrated development strategy and capitalize on the benefits that stem from the China International Import Expo. The city aims to develop globally influential service platforms by 2025, including the integration of various industry chains. The initiative also includes fostering innovative digital solutions to set a standard for digital transformation and professional services.
Hongqiao International CBD will focus on creating leading platforms that catalyze digital transformation in the real economy. It also plans to enhance its industrial ecosystem, and create a more conducive development environment. One of the measures is the "Hongqiao convergence" initiative, which aims to attract headquarter-level platforms and to integrate platforms with industrial parks in order to spur holistic growth.
The initiatives encompass building international service areas, upgrading infrastructure, empowering venture capital investment, and providing targeted financial support for key platforms. Additionally, the initiatives prioritize making Hongqiao International CBD a talent magnet by improving living conditions and establishing a network of service platforms that will strengthen the district's position as a business and innovation hub.
