Nurturing new quality productive forces and facilitating companies' international expansion will be key priorities for the Hongqiao International Opening-up Hub, officials said on Friday.
At a news conference summarizing the hub's achievements over the past four years, officials highlighted its role in promoting integrated development across the Yangtze River Delta region.
The State Council, China's Cabinet, approved the framework construction plan for the hub in February 2021. Covering 7,000 square kilometers across Shanghai and the provinces of Jiangsu, Zhejiang and Anhui, the hub has been tasked with pioneering new development models.
READ MORE: International hub in Shanghai's Hongqiao expected to connect domestic, world markets
With a concentration of high-level technology innovation platforms, leading companies and mature industrial systems, the hub is well-positioned to foster new quality productive forces, said Chen Guozhong, deputy director of the Shanghai Municipal Development and Reform Commission.
Technology service companies account for 21.4 percent of all businesses registered in the hub, and its GDP reached 3.2 trillion yuan ($440 billion) last year, an increase of nearly 1 trillion yuan from four years ago, according to public data. Its economic density — its GDP per sq km — has hit 450 million yuan, five times the Yangtze River Delta's average.
Changning district, the hub's central area, has prioritized the development of the low-altitude economy. It is establishing a low-altitude airworthiness consulting service and a low-altitude economic research platform, said Liu Ping, head of the district.
In the hub's northern section, located in Jiading district, 77 technologically advanced small and medium-sized enterprises and 155 high-tech firms have set up operations, according to Jiading district chief Gao Xiang.
In Qingpu district, which occupies the western part of the hub, the number of high-tech firms rose by 88.6 percent over the past three years, said district head Jin Xiaoming.
As local businesses seek to expand globally, the Hongqiao International Central Business District — at the heart of the hub — plans to accelerate its opening-up and attract more professional service providers, said Kong Fu'an, Party secretary of the district's administrative committee.
The district aims to bring in high-level service firms and establish more international business headquarters for companies based across the Yangtze River Delta, Kong said. Strengthening ties between the region's manufacturing sector and the district's service providers will help businesses better access global markets. The region's strong production capacity, high-quality equipment and advanced technologies can then be promoted more effectively worldwide.
ALSO READ: New engines set to drive innovation
Service providers will also receive support to strengthen their international networks and assist companies with overseas expansion, Kong added.
Government departments in the district have already connected with 46 countries and more than 130 overseas economic and trade cooperation zones to offer tailored services for outbound companies, he said. A specialized service guideline has been developed to address core needs for firms venturing into international markets, with one-on-one assistance available for companies with specific requests.
Last year, the total import and export value for goods in the Hongqiao International Central Business District increased 13 percent year-on-year, while trade in services jumped 80.9 percent. Export value with partner countries in the Silk Road e-commerce program surged 48.5 percent from the previous year.
