Hongqiao Hub Marks Five Years of Driving Global Trade and Foreign Investment

Shanghai's Hongqiao business district is accelerating its transformation into a premier springboard for Chinese companies going global and a magnet for multinational investment, officials said on Monday.

The Hongqiao International Central Business District reported its gross domestic product surpassed 200 billion yuan (US$27.8 billion) in 2025. Tax revenue nearly doubled to 51.8 billion yuan over the past five years, while the number of registered corporate entities jumped to nearly 100,000.

"We will strengthen our core functions to build a world-class open hub and serve as the first stop for Yangtze River Delta enterprises expanding overseas," said Kong Fu'an, executive deputy director of the district's management committee.

The city government launched the Hongqiao master plan five years ago to integrate resources across neighboring provinces and streamline cross-border trade.

The hub now hosts 283 city-level regional headquarters and drives technology research, international exhibitions, and service trade, which topped 120 billion yuan last year. It spans four districts, with each local government carving out a specific role to support international business.

Minhang District focuses on manufacturing research and professional services. It hosts 184 legal service agencies and human resource platforms to help companies navigate overseas compliance and hiring.

Changning District has built a service network for outbound companies to handle administrative and legal procedures. Foreign enterprises now account for one in seven companies in the area.

Qingpu District leverages its location next to the National Exhibition and Convention Center (Shanghai) to boost trade. It launched the city's first cross-border e-commerce industrial park, generating 6.9 billion yuan in export transactions in 2025 and driving local cross-border e-commerce exports to more than double on year.

Jiading District attracts high-end foreign research facilities. It secured a Porsche research and development center and continues to build innovative platforms for medical devices and digital economies.

Companies operating in the Hongqiao area said the integrated services and deep talent pool directly support their international ambitions.

Tracy Yang, vice chairman of KPMG China, said the business district acts as a bridge connecting the region to the world.

The advisory firm hosted more than 40 overseas partners from 20 countries and regions in Hongqiao for its annual "Go Global" week last May, an event designed to connect international business experts with local companies seeking to expand internationally.

The firm recently helped an enterprise in Ningbo, neighboring Zhejiang Province, invest in a gold mine in Sudan, northeast Africa, and assisted a cement manufacturer in building a plant in the Middle East.

Yang credited the business district's fast response times for essential business operations, including visa and passport services, for facilitating these global moves.

Medical device makers also use the hub to secure international talent and manage global regulatory hurdles.

Wego Group established the Shanghai Weiheng Medical Technology research institute in Minhang to anchor its R&D efforts.

Huang Xuesong, deputy general manager of Weiheng Medical, said the location provides crucial access to top-tier hospitals and industry experts.

He noted that Hongqiao's overseas service base also helps the company handle product registrations, clinical trials, and trade exhibitions in destination countries.

"Our executives and R&D staff have truly benefited here. They feel settled," said Huang, commenting on the Hongqiao business district's talent support policies.