Minhang Enjoys Strong Growth During 14th Five-Year Plan

During the 14th Five-Year Plan (2021-2025) period, Minhang led its development with innovation and openness, achieving a gross domestic product of over 400 billion yuan (US$56.18 billion) and total fiscal revenue of over 90 billion yuan, ranking second in Shanghai, the district announced last month.

The district's R&D spending accounted for about 8 percent of its GDP, which is the highest proportion in the city. It has also been recognized as "China's Happiest Urban District" for two consecutive years.

As a traditional manufacturing powerhouse in Shanghai, Minhang has fully advanced its industrial upgrading and actively built a modern industrial system. The regional GDP reached 411.9 billion yuan in 2024, representing a 60.6 percent increase compared to the end of the 13th Five-Year Plan period (2015-2020), with the tertiary sector's share rising to 73.5 percent.

The district is intensifying its efforts to develop three industrial clusters, each valued at 100 billion yuan: advanced energy equipment and green low-carbon industries, aerospace, and biomedicine.

It is also making forward-looking layouts for future industries, including energy, space, and health.

During the 14th Five-Year Plan period, the construction of the Hongqiao International Open Hub was elevated to a national strategy. The Hongqiao International Central Business District (Minhang section) has attracted nearly 28,000 enterprises, including 275 headquarters-type companies. Tax revenue in 2024 reached 10.9 billion yuan.

The Hongqiao Import Commodity Exhibition and Trading Center gathered 85,000 products from 120 countries and regions, creating a "never-ending CIIE."