Huangpu initiates investment promotion campaign

Editor's note:

Shanghai, a well-established destination for investment from home and abroad, is confident it will attract more quality investment thanks to better policies and services.

Huangpu District launched its investment promotion campaign for 2024 on Wednesday to solidify its status as a rapidly expanding area in downtown Shanghai.

Several key projects, including Mindray Medical, HAI 550, and New Oriental Culture and Tourism signed agreements with Huangpu at the launch ceremony for the campaign.

These projects span the commerce, science and innovation, and culture and tourism sectors, focusing on areas such as biomedicine, semiconductors, new energy and foundation models.

In 2023, Huangpu achieved a gross domestic product of 315.73 billion yuan (US$43.9 billion), maintaining its rank as second in the city and first among central districts in terms of total volume and economic density.

The district also reported a local public budget income of 28.22 billion yuan, ranking second among downtown districts.

Over the year, it attracted 29.77 billion yuan in domestic investment, with foreign investment reaching US$1.84 billion, a nearly 70 percent increase and the highest growth rate in the city.

The district also welcomed high-level financial institutions to the Bund, reaching a total of 721 licensed financial institutions. Finance has become the leading driver of regional economic growth, according to the district government.

Key business districts such as Nanjing Road E., Huaihai Road M., and Yuyuan Garden were innovatively developed and upgraded, contributing to a strong recovery in the consumption and performance markets.

Zhang Ying, director of the Shanghai Commission of Economy and Informatization, highlighted Huangpu's unique location advantage and distinct industrial features.

The commission plans to enhance collaboration with Huangpu to support industrial investment and project advancement, aiming to better play the region's supportive role in building a modern industrial system, Zhang said.

Imaginechina