The Hongqiao International Opening-up Hub has recently revealed impressive growth statistics, reflecting its growth into a significant global player.
Economic and Infrastructure Expansion
The hub's GDP reached 3.2 trillion yuan ($440 billion) last year, an increase of nearly 1 trillion yuan from four years ago. Import and export trade of the Hongqiao International Central Business District (CBD), the hub's core area, experienced a remarkable 255 percent increase, totaling 85.64 billion yuan.
The Hongqiao Comprehensive Transport Hub managed a staggering 438 million passengers last year, solidifying its position as one of the world's largest transportation hubs. Additionally, the hub is actively exploring low-altitude flight routes to further enhance connectivity.
Innovation and Industry Clusters
Key Shanghai industries are experiencing significant growth within the hub, with technological innovation driving progress.
The CBD has successfully attracted major biopharmaceutical projects from renowned companies such as Innovent Biologics and Yunnan Baiyao, with the New Hongqiao International Medical Center serving as a pivotal entity in this sector.
The integrated circuit industry is flourishing, with the introduction of new facilities and collaborations aimed at advancing automotive chip development. Furthermore, artificial intelligence companies are leading the way in developing innovative manufacturing solutions within the hub.
Gateway for International Expansion
Hongqiao is emerging as a vital hub for international trade, and it is bolstering its infrastructure to support Chinese enterprises on a global scale. The Hongqiao Overseas Development Service Center, which began operating last year, has successfully attracted over 500 international service institutions, offering comprehensive support for global ventures.
