Lujiazui's building affairs committees prove a success

The city’s financial hub Lujiazui is establishing committees in commercial buildings as a bridge between authorities, tenants and buildings owners in an attempt to improve the business environment.

The Lujiazui Financial City, known as the "Manhattan of the East," boasts 285 commercial buildings and more than 43,000 companies, including over 340 Fortune Global 500 enterprises and 120 regional headquarters of multinational companies.

Last year, the local administration bureau initiated a pilot program to establish “building affairs committees” in six buildings. It has been extended to 39 buildings, according to the Lujiazui Administration Bureau.

“It is like neighborhood committee — we hear from tenants and solve their problems,” said Yan Ming, vice general manager from Shanghai Tower. “We are currently discussing the possibility of providing a childcare service over the summer holiday to relieve the burden of young working parents.” 

Last year, committees in six buildings helped 169 companies establish themselves in Lujiazui, including MioTech and Phoenix Satellite TV, by offering a variety of services such as finding offices and streamlining approval procedures

Also, 16 buildings have reduced rent by over 72.9 million yuan (US$11.22 million) to 596 small-and-medium-sized companies, and financial institutions have offered more than 80 million yuan of low-interest loans to local eateries.