As Chinese companies ramp up their international expansion, Shanghai's Hongqiao International Central Business District is becoming a vital hub for global outreach.
Chinese tech heavyweight Alibaba opened its first international one-person company (OPC) community, "Hongcheng OPC", at the Hongqiao Alibaba Center in the Shanghai Hongqiao International Central Business District on March 23.
The Hongqiao International Opening-up Hub, an area that spans Shanghai and parts of its neighboring Jiangsu, Zhejiang, and Anhui provinces, has grown into a regional hub of high-standard opening-up after five years of development.
Five years after the launch of the Hongqiao International Opening-up Hub, its core area, the Hongqiao International Central Business District, is emerging as a key node for business, innovation, trade, and connectivity.
Shanghai Hongqiao International Central Business District, a portal for China's deepened two-way opening-up, will further improve its strength in commerce, exhibition, transportation and technology innovation to prepare for high-quality development during the 15th Five-Year Plan (2026-30) period.
Since being designated as the core of the Hongqiao International Opening-up Hub five years ago, the Hongqiao CBD has made major strides in boosting transportation, business, exhibitions, and tech innovation.
Occupying less than 2 percent of the Yangtze River Delta (YRD) region's land, the Hongqiao International Opening-up Hub generated nearly 10 percent of the region's GDP.
Hongqiao International Central Business District (CBD) has set up a team of 108 professional service providers covering 18 core sectors to support Chinese enterprises in their global expansion, according to the CBD's administrative committee.
