Huangpu launches global investment promotion
Huangpu District launched its global investment promotion season on Wednesday to attract more overseas investors and further boost the economic vitality of the downtown district.
Delegations from Huangpu will visit and host investment promotion events in China's Hong Kong and Macau, Southeast Asia, Europe and other overseas regions to drive the growth of its regional economy, said Gao Yun, Party secretary of Huangpu.
"Huangpu will showcase its world's first-class business environment that is convenient, efficient and service-oriented with a well-established rule of law, to global investors," Gao told a meeting with key enterprises in Huangpu on Wednesday.
Officials from nearly 200 key companies in Huangpu attended the meeting, along with government and subdistrict officials.
Over a dozen multinational enterprises were appointed as partners of Huangpu to support its global investment promotion season. They include Deloitte, PwC, Accenture, McKinsey, Mercer, Cushman & Wakefield, JLL and Colliers International.
Ten law firms, including the Shanghai offices of the global law firm Paul Hastings, as well as Allen & Overy and Herbert Smith Freehills from the United Kingdom, were invited to offer legal assistance for the campaign.
Huangpu attracted a total of 50.78 billion yuan (US$7.14 billion) in domestic investment, more than doubling its established target of 20 billion yuan in 2022.
The downtown district attracted over 100 high-end modern service enterprises, 20 key companies and four headquarters of multinational enterprises last year.
Its regional GDP reached a record of 302.3 billion yuan last year, ranking second in Shanghai, according to the district government.
Over 70 office buildings in Huangpu contributed more than 100 million yuan each in tax revenue last year. The most lucrative office high-rises, which were awarded at the meeting, include the K11, the BFC Bund Finance Center, Shui On Plaza and 100 Bund Square.
Several other downtown districts, such as Xuhui and Hongkou, have launched promotion campaigns in overseas cities to attract foreign investment.