Huangpu district blazing a trail for Shanghai's development

Huangpu district, known as Shanghai's "heart, window and calling card", has achieved high-quality development, improved living standards and strengthened governance during the 14th Five-Year Plan period (2021-2025), steadily enhancing urban capacity and competitiveness, according to officials.

As of the end of 2024, Huangpu's GDP had reached 334.4 billion yuan ($46.88 billion), with an average annual growth of about 4.5 percent over the past four years. The district's economic density, or GDP per square kilometer, stood at 16.3 billion yuan ($2.28 billion) per square kilometer, ranking first in Shanghai and coming in as one of the best in China, said Gao Yun, Communist Party secretary of Huangpu district.

Thanks to constant efforts to deepen opening-up and innovation, 30 new regional headquarters have been established by multinational companies in the area since the end of 2020, bringing the total number to 83, Gao added.

"Over the same period, the amount of foreign-funded R&D centers in the district increased from two to eight," said Qiu Wen, director of Huangpu's commission of commerce.

"Actively seizing opportunities emerging via high-level opening-up, the district has comprehensively optimized its foreign investment environment to enhance its attractiveness and competitiveness," added Qiu.

According to Qiu, the district is home to almost 3,000 foreign-invested independent business entities, with investment coming from more than 70 countries and regions.

"The district's financial sector has seen steady growth of about 6.5 percent annually from 2021 to 2024," said Gao.

"In 2024, the added value of Huangpu's financial sector rose to 128.6 billion yuan ($18 billion), contributing 38.5 percent of the district's GDP and nearly one-sixth of Shanghai's financial sector."

According to Gao, the district has also made progress in the development of high-end industries, urban regeneration, living standards, culture and urban governance.