Marvelous Minhang eyes a prosperous future
To promote the spillover effects of the China International Import Expo, Minhang District held an event to showcase its investment environment and business opportunities on Sunday.
Wu Bin, deputy director of the district, said Minhang, geographically located in the middle of Shanghai, boasts convenient transportation, fast economic development, strong strength in scientific and technological innovation and happiness for life.
“It’s the only district in Shanghai to span across the Huangpu River with the world’s biggest transportation hub – the Shanghai Hongqiao Transportation Hub which can reach the rest of the world by railways, airlines and cars,” he said.
“Minhang also hosts two prestigious universities – Shanghai Jiao Tong University and East China Normal University – and 1,500 high-tech enterprises as well as about 100 transnational company headquarters and R&D centers.
"Nearly 9.5 percent of its GDP is invested in research and development, higher than the 4 percent of the city level. We also have more than 400 primary and secondary schools and kindergartens, as well as one third of the international schools in the city, which can meet needs from diversified families.”
At the expo, an assessment report on the investment environment in Minhang was released in both Chinese and English, the third of its kind by PWC.
Based on field investigations, questionnaires, interviews and case studies, the report concluded that Minhang has had comprehensive improvements in government services, innovation ecology, industry ecology, talent resources and living environment.
Its government services received favorable comments from enterprises, which is believed to be one of the key factors for it to become pivot to drive domestic circulation in economic development and an important hub for China to further open up to the international market.
According to statistics from the district government, Minhang has confirmed over 200 billion yuan (US$30 billion) of investment this year, six times last year’s total, with eight-five investment programs having materialized and another 141 under way.
On Sunday, six enterprises, including Siemens, Medtronic plc, PWC and Chia Tai Group, signed agreements to launch new projects in Minhang, which are expected to optimize the district’s industrial structure and attract more international investments.
The district also released the development plans for two subcenters for Shanghai in Hongqiao and Xinzhuang areas.
According to the plans, the Xinzhuang subcenter will cover 7.3 square kilometers with 3 million square meters of structures to be constructed, including 1.11 million square meters of office buildings, 530,000 square meters of public service facilities and 1.41 million square meters for research and development.
The region is expected to become a core area for Shanghai and even the Yangtze River Delta region featuring enhanced government services, trade services, professional service sector, high-end manufacturing capacity and strong innovation and entrepreneurship.
The other subcenter – the Minhang part of the Hongqiao Business District – is a key area to implement the national strategy for integrated development of the Yangtze River Delta region and an important growth pole for the economic development in Shanghai’s west part.
Its core area will cover 18 square kilometers and there will also be a 30-square-kilometer area named as “Hongqiao Qianwan District,” or Hongqiao front bay district in Chinese, featuring high-end business and living environments.