Five Major Cultural and Tourism Projects Signed in Shanghai

​An artist's rendering of the "Shanghai Gate" Ferris wheel. [Photo/Shanghai Observer]

The 2026 Shanghai Tourism Investment Promotion Conference was held on April 29 at the Shanghai Sheshan National Tourist Resort in Songjiang district.‌

At the conference, the YRD G60 Cultural and Tourism Alliance was launched, two cultural and tourism investment guides were released, and five key projects with a total investment of nearly 4 billion yuan ($585.72 million) were signed.

According to the Shanghai Municipal Administration of Culture and Tourism, the city will continue to leverage its role as both a gateway to China and a hub in the Yangtze River Delta region. Shanghai aims to attract high-quality cultural and tourism projects and institutions, promote the two-way flow of Shanghai's cultural and tourism capital, brands, and management expertise, and strengthen its position among the world's leading tourist destinations.

Among the five major projects, a core urban renewal initiative near the Bund will focus on preserving historic buildings and revitalizing their cultural and tourism functions. The project will integrate cultural exhibitions, upscale consumer offerings, and unique experiential spaces.

The Xuhui West Bund walking route will connect art spaces, waterfront landscapes, and leisure businesses, creating an all-weather riverside leisure corridor for visitors of all ages and enhancing the West Bund's appeal and visitor capacity.

The West Bund Star Dome, a 360-degree spherical venue with an estimated investment of about 1.2 billion yuan, is designed to hold around 3,000 spectators. Construction is scheduled to begin in the second half of 2026, with completion expected by the end of 2027.

The "Shanghai Gate" Ferris wheel, set along the riverside area of Baoshan district, is planned as the world’s tallest spokeless Ferris wheel at 228 meters. With an estimated investment of about 2 billion yuan, construction is expected to start by the end of 2026.

The immersive AI-powered theater "New World: Golden Age" will be developed on the nearly 10,000-square-meter Huanghe Road block in Shanghai Film Park. The project will faithfully recreate the atmosphere of Shanghai in the 1990s and is slated to open in summer 2026.

The conference also introduced a cultural and tourism investment map, covering four major sectors — culture, tourism, radio and television, and cultural relics — along with 16 subsectors such as art trading, performing arts, and esports.

In the first quarter of 2026, the number of newly registered enterprises subject to post-registration approval by the Shanghai Municipal Administration of Culture and Tourism reached 3,651, up 26 percent year-on-year, with total registered capital of about 6.59 billion yuan.

The integration of culture, commerce, sports, tourism, and exhibitions continues to drive growth in the service industry, boosting both consumption and employment.