Shanghai's Hongqiao area on track to become research and innovation hub
Shanghai's Hongqiao region will become a hub for innovation, investment, research centers and talent with high-level opening-up and regional collaborative innovation, speakers told a top-level forum on Monday in the ongoing China International Import Expo 2023.
Speakers, from Shanghai Mayor, Nobel Laureate, bank presidents, think tanks and company CEOs, shared their visions at the 2023 Hub Conference. It was the Hongqiao International Economy Expo, a high-level event organized by the Ministry of Commerce and the Shanghai government during the China International Import Expo.
The Hongqiao International Opening-up Hub, or Hub, aims to promote the integration of the Yangtze River Delta. It will access global resources and drive smart growth, with high-quality openness and innovation.
Jean Tirole, winner of the 2014 Nobel Prize in Economics, emphasized the importance of innovation ecosystems, covering entrepreneurs, financing, talent and schools and universities. He referenced the tech giants with facilities in Hongqiao, such as Trip, iFlytek and iQiyi, as examples.
Over the past two years, the Hongqiao Hub has grown at an average annual rate of over 8 percent. With less than 2 percent of the Yangtze River Delta's land area, it has contributed nearly 10 percent of the total GDP, speakers told the forum.
Given that the Hongqiao Hub has become an important network connecting the Yangtze River Delta, Shanghai, and the global market, it will not only be a hub for commerce and transportation, but also a center for innovation and knowledge, promoting economics, trade and high-quality cultural development, said Jin Liqun, president and chair of the Asian Infrastructure Investment Bank, or AIIB.
Top executives from KPMG, Otis, Deloitte, Trina Solar, CHC Navigation and CDP Group also shared their visions at the forum.
Digitalization is advancing smart cities and their high-quality development, said Judy Marks, chair, CEO & president of Otis Worldwide Corp.
Otis, with a research facility in Hongqiao, is debuting next-generation smart elevator systems at their CIIE booth, including the Otis Gen360 digital elevator, the 515NPE public escalator and a concept Smart Cab product. Each products is designed to advance the passenger experience, creating a safe and more connected urban journey.