The Greenland Global Commodity Trading Hub in the Shanghai Hongqiao International Central Business District. [Photo provided to chinadaily.com.cn]
As the Hongqiao International Opening-up Hub celebrates its fifth anniversary, its core area, the Shanghai Hongqiao International Central Business District (CBD), has unveiled significant progress as a key global trade hub.
Over the past five years, the CBD's import-export volume has increased to 102.72 billion yuan ($14.92 billion) in 2025 from 56.8 billion yuan in 2021. This shows growth in trade with over 150 countries and regions, according to the CBD's administrative committee at a press meeting on March 16.
The CBD has enhanced its trade in services. In 2025, the volume of service trade reached $17.9 billion, up 11.77 percent from the previous year, accounting for 7.45 percent of Shanghai's total trade.
Digital trade is also on the rise. Last year, cross-border e-commerce transactions saw 87.9 million orders worth 14.63 billion yuan, growing 4.9 times and 3.8 times year-on-year, respectively.
The Hongqiao CBD Bonded Logistics Center (Type B) has led the city in cross-border e-commerce import sales and order volume for three consecutive years.
The entire district is now one of the China (Shanghai) Pilot Free Trade Zone-linked innovation zones, further empowering it to promote investment and trade facilitation, financial and data services, and cross-border e-commerce by applying FTZ policies.
Hongqiao has set up a cross-border data service center to help businesses connect to the global internet. The district is also exploring new applications for cross-border product traceability and digital renminbi for cross-border transactions.
It is deepening its involvement in the Regional Comprehensive Economic Partnership (RCEP) with a service consultation station and a United Nations procurement platform, reinforcing its commitment to global trade.
