North Hongqiao Business District unveils new goals for 2023

As one of the “dual engines” for the improvement of the core competitiveness of Jiading District in its next phase of development, the North Hongqiao Business District has set out its major economic goals for 2023.

The business district plans to achieve 8.19 billion yuan (US$1.19 billion) in tax revenue, add 5,000 registered enterprises, introduce 35 hundred-million-yuan-level new projects and achieve 10.8 billion yuan in total output for key industries.

The North Hongqiao Business District will further expand investment this year. Twenty-one major projects with investment totaling 19.98 billion yuan have been planned, an increase of 13.97 percent from 2022. Paid-in investment for 2023, meanwhile, is set at 3.77 billion yuan, up 18.26 percent year on year.

The civil engineering, installation and interior decoration work of the R&D headquarters building project of Argus (Shanghai) Enterprise Group in the Hongqiao Xinhui Headquarters Bay has been finished. The project is to be completed and put into use in the first quarter of this year. After completion, it will provide comprehensive dyeing and finishing solutions for the textile industry.

Construction in full swing

Other projects in the Xinhui headquarters bay are also gathering pace such as LucaNet, Zeta and Gold Concord.

The project of Yingchuang Building Technique (Shanghai) Co (Winsun), a leader in 3D printing architecture, will complete construction and be put into use in the first quarter, while those of Jushri Technologies, Egoo Networks and Huibai are scheduled to complete construction and become operational in second half of the year.

Construction on the Aviation Smart Valley is also in full swing. As a key project for the development of waterfront areas in Shanghai in 2022, it is expected to be completed by the end of 2025.

The project, with a total investment of about 2.6 billion yuan, will attract aviation finance, aviation leasing, aviation information and other related enterprises and build a one-stop platform for serving the general aviation industry chain.

Meanwhile, the suburban district has also worked out a plan to attract investment.

Lingang Jiading Science and Technology City in the North Hongqiao Business District, a major engine driving Jiading’s growth, will promote the construction of an online new economy ecological park and technological innovation incubator, with emphasis on luring large enterprises and leading industry players. It plans to achieve 150 million yuan in tax revenue throughout the year and add 300 newly-registered enterprises.

Leveraging on the existing resources of companies such as Kindly, Totole Food and Huazhu Hotel, the North Hongqiao Business District will give full play to its strength in industries such as medical equipment, digital trade and condiment, and strive to form several strong industrial clusters.