The core area of Shanghai's Hongqiao International Central Business District, which is at the heart of the Hongqiao International Opening-up Hub. [Photo provided to chinadaily.com.cn]
Shanghai aims to transform the Hongqiao International Central Business District (CBD) into a vibrant, globally connected hub for high-standard opening-up by 2030, according to the 15th Five-Year Plan (2026-30) for the district's development.
The plan was unveiled at a press conference organized by the Shanghai Municipal People's Government on Aug 27. Yang Zhengwei, executive deputy director of the Hongqiao International CBD Administrative Commission, introduced the plan. It aims to boost the region's GDP from 210.9 billion yuan ($31.3 billion) in 2025 to over 280 billion yuan by 2030, with tax revenues growing from 51.85 billion yuan in 2025 to more than 70 billion yuan.
The plan outlines a "Three Highs, Three News" strategy: achieving new breakthroughs in high-standard two-way opening-up, making new progress in high-quality development, and presenting a new look for a high-quality international urban area. The plan sets nine quantitative targets across economic, functional, and urban dimensions, with the goal of transforming the business district into a globally influential central hub by 2030.
Key initiatives include optimizing the "big commerce" function to enhance openness, with the goal of increasing service trade from $17.9 billion to about $23 billion. The district aims to add 125 new corporate headquarters by the end of 2030.
The plan also emphasizes leveraging the spillover effect of the China International Import Expo to enhance the region's role as a core venue for international exhibitions, while promoting the integrated growth of culture, commerce, tourism and sports.
The district aims to become a collaborative innovation hub, focusing on emerging industries like life sciences and brain-machine interfaces, and adding 100 R&D centers by 2030.
Aligned with the "People's City" concept, the plan promotes urban renewal and public service enhancements, including new educational and medical facilities, and the development of green spaces, ensuring the district is both globally recognized and locally cherished.
