As Chinese companies ramp up their international expansion, Shanghai's Hongqiao International Central Business District is becoming a vital hub for global outreach.
With its strong industry ecosystem and efficient services, Hongqiao is attracting businesses from the Yangtze River Delta region and beyond, serving as a launchpad for overseas ventures.
For instance, a Hangzhou-based energy company moved its operations headquarters to Hongqiao in 2023 to benefit from the area's new energy industry cluster, accelerating its global expansion.
In the past year alone, this company has entered markets in New Zealand, Indonesia, Saudi Arabia and Oman. "Hongqiao offers a concentrated supply chain where equipment, services and capital can be accessed within a five-kilometer radius," said an executive.
A tea beverage brand from Yunnan has also set its global business center in Hongqiao, drawn by Shanghai's talent pool and the district's comprehensive support services. The company found it easier to recruit international talent here and appreciated the one-stop services that reduce the risks of international expansion. Over the past year, the brand has entered markets in the United States, Vietnam, Indonesia and the Philippines, and plans to open its first store in Seoul soon.
The demand for international expansion has also attracted professional service firms to Hongqiao. Companies like KPMG have set up offices here, benefiting from the proximity to client headquarters, which boosts service efficiency and fosters strong collaboration.
Additionally, the Hongqiao Overseas Development Service Center is enhancing its service network. It now hosts 108 professional service organizations covering business, tax, legal, insurance and human resources, offering integrated solutions for companies going global. The center has helped nearly 200 companies expand worldwide.
