Under the guidance of the Hongqiao Overseas Development Service Center, Shanghai-based HR service provider TRUSTLINK has successfully ventured into international markets, making its first overseas direct investment (ODI) in Indonesia earlier this year.
By leveraging its innovative service model and operational efficiency, TRUSTLINK quickly established a strong presence in the local market.
Rooted in Hongqiao: Achieving a "1:817" Efficiency Ratio
In 2022, TRUSTLINK strategically established its headquarters in Shanghai's Hongqiao International Central Business District (CBD).
The company benefits from the CBD's transportation hub, talent pool, and international resources. It is also collaborating with leading enterprises in the Hongqiao Human Resources Service Industrial Park and integrating deeply into the Yangtze River Delta's development framework.
Its breakthrough approach involves applying an assembly line model to service processes, achieving a remarkable "1:817" employee-to-client efficiency ratio. TRUSTLINK currently serves over 1,500 clients, impacting more than 100,000 individuals.
First ODI: Overcoming Challenges from Approval to Fund Transfer
Recognizing Indonesia as a key market for expansion amidst the Belt and Road Initiative's growing demands, TRUSTLINK faced challenges such as complex documentation and inexperience with ODI applications.
With crucial support from the Hongqiao Overseas Development Service Center, the company managed to navigate these hurdles. "The ODI application was a learning curve for us," said Pan Kongren, head of TRUSTLINK's overseas business. Hongqiao service center staff provided invaluable guidance, facilitating communication with municipal review departments and significantly shortening the approval process.
After approval, the financial aspects were efficiently managed through Shanghai's robust financial infrastructure. Utilizing the Cross-Border Financial Blockchain Service Platform, TRUSTLINK swiftly completed foreign exchange registration and fund transfer, paving the way for a successful project launch in Indonesia.
Building a Service Ecosystem: 500+ Professional Institutions
The Hongqiao International Central Business District supports national strategies like the Yangtze River Delta integration and the Belt and Road Initiative, enhancing its global outreach.
Guided by the CBD's administrative committee, the Hongqiao Overseas Development Service Center has assembled over 500 international professional service institutions across 10 sectors, including finance, law, and human resources, to support enterprises expanding globally.
Looking ahead, the service center plans to optimize its service mechanisms and consolidate resources, offering comprehensive support from policy guidance to resource connection.
