Experts push innovation of the North Hongqiao Business District

More experts from China's top academic institutions, such as the Chinese Academy of Engineering, will engage in boosting the innovation capacity of the North Hongqiao Business Center in Jiading District, part of the Shanghai Hongqiao International Central Business District.

Supported by Jiading District, a "financial and economic discussion" event with experts from all walks of life, was jointly launched by the North Hongqiao Business Center committee and China's Management Science Society (CMSS).

The CMSS is a national-level academic group established in 1980. It's an important social organization and think tank in China, and in the global management field.

Experts, scholars and institutional executives from different fields gathered at the event to express insight on the development trends of digitalization, corporate financial empowerment, and regional synergy outlook.

Zhang Xiaodong, vice president of CMSS, pointed out that innovation is the core of the digital economic industry.

"We aim to further open the innovative functions of the North Hongqiao Business District, and will transform major opportunities into regional development momentum," said Li Feng, deputy head of Jiading District.

Also, the North Hongqiao Business District is one of the "dual engines" to improve core competitiveness of Jiading District.

The business district is eyeing more achievements and investment within the year, including 8.19 billion yuan in tax revenue, 5,000 more enterprises, dozens of new projects, and 10.8 billion yuan in total output for major industries.

Located in the central area of Shanghai's Hongqiao International Open Hub, which just celebrated its second anniversary, the Hongqiao CBD now has over 500 headquarters of various enterprises that have improvements in major economic growth indicators.

Despite the impact of COVID-19, the Hongqiao CBD maintained good performance in 2022, and is becoming a highland among the Yangtze River Delta region, Hu Zhihong, deputy chief of the Hongqiao CBD committee unveiled during the event.

The total investment volume, and newly started construction projects the CBD attracted over the last year, accounted for nearly 130 billion yuan (US$18.86 billion), which showed strong growth momentum, according to Hu.