South Hongqiao serves as a bridge between domestic and international markets. [Photo/WeChat ID: minhangnews]
As China's 14th Five-Year Plan (2021-25) draws to a close, Shanghai's Minhang district celebrates a remarkable transformation.
Over the past five years, the Minhang area of the Hongqiao International Central Business District, known as South Hongqiao, has evolved from a gateway for newcomers to Shanghai into a dynamic global business hub.
Now a vital entry point for international businesses and a launchpad for local companies expanding abroad, South Hongqiao has seen significant growth.
During this period, the area has drawn 10,000 new businesses, increasing the total to more than 28,000. It has also become a favored location for corporate headquarters, with 276 established here, an increase of 99 since the end of 2020.
Between 2020 and 2024, investments reached 33.63 billion yuan ($4.73 billion). Major industry clusters are developing, led by the biopharmaceutical and new energy sectors. In South Hongqiao's Qianwan area, a biopharmaceutical headquarters cluster has formed, comprising nine headquarters and covering the complete industrial chain from R&D to sales.
South Hongqiao is prominent in international trade and services. The Hongqiao Overseas Development Service Center offers comprehensive support to more than 3,500 domestic and international businesses looking to enter China or go global. The Hongqiao Import Commodity Exhibition and Trade Center (Hongqiao 365) has drawn nearly 1,000 trading companies and showcased over 85,000 imported products, leveraging the momentum generated by the China International Import Expo.
Leading companies have flocked to South Hongqiao to pursue global growth. For example, Samyang Foods expanded into live-streaming e-commerce with support from Hongqiao 365, leading to a 200 percent rise in online exposure. By 2024, Samyang Foods' market size in China exceeded 3.5 billion yuan, making up 30 percent of its worldwide total.
The future appears promising as the Qianwan area begins a new development stage, with nearly 10 square kilometers prepared for building. The overall plans emphasize upgrading road networks and public amenities, while parks, schools, and healthcare facilities are being developed within a landscape framework.
Looking ahead, South Hongqiao is positioned for ongoing growth and will strengthen its role as an essential link between domestic and international markets, with new developments and infrastructure projects like the China Shanghai Human Resources Service Industry Park (Hongqiao Park) and the Hongqiao International Central Legal-services District.
The Hongqiao International Central Legal-services District. [Photo/WeChat ID: minhangnews]
