The Minhang area of the Hongqiao International Central Business District boasts a dynamic business landscape. [Photo/WeChat ID: guojihongqiao]
In the first quarter, the Minhang area of the Hongqiao International Central Business District (CBD) experienced significant development progress.
Key highlights include a 9.6 percent year-on-year increase in tax revenue, reaching 3.09 billion yuan ($426.19 million), and a surge in the headquarters economy, attracting major enterprises such as KPMG China and Li Auto.
The area achieved a 5.3 percent year-on-year increase in commodity sales, reaching 40.09 billion yuan, and a 3.8 percent year-on-year growth in the operating income of large-profit service industries, reaching 6.3 billion yuan. Additionally, fixed asset investment soared by 26 percent to 3.44 billion yuan.
The area also held a number of significant events, including the Minhang South Hongqiao Enterprise Commendation Conference and the 2023 Second Phase Key Project Signing Ceremony, where contracts were signed with 11 key enterprises, further boosting industrial sectors.
On March 28, KPMG China's new office, KPMG Campus (KAMPUS), held its opening ceremony. The decision to open its new office in the Hongqiao International CBD underscores the area's exceptional transport links and its growing importance as a commercial and financial nexus in the Yangtze River Delta.
The South Hongqiao Group actively engaged in targeted investment promotion, aiming to attract more high-quality enterprises to the area.
On March 31, the Hongqiao Qianwan area saw the commencement of two major industrial projects with total investment exceeding 700 million yuan. Construction on several major industrial projects in the area has also accelerated, further boosting economic development.
From January to March, functional platforms continued to strengthen, empowering regional development. The rapid construction of 46 major urban supporting projects advanced steadily.
Overall planning and layout optimization for development and construction work have been systematically carried out. The next phase will focus on implementing the construction plan, prioritizing tasks, and pushing forward at full speed.
