Changning district, which hosts a third of Shanghai’s foreign consulates and almost 6,500 foreign enterprises, including Unilever and Bosch, is inviting more businesses from the United Kingdom to invest in it, its officials told an audience in London.
Wang Youxiao, deputy head of the organization department of the Changning district committee, said: “Changning has been a pioneer in Shanghai’s reform and opening-up. In 1986, the Shanghai Hongqiao Economic and Technological Development Zone established in Changning was the first national-level development zone focused on the service sector and hosting foreign consulates.
“We are also cultivating new industries, such as artificial intelligence, low-carbon industry, and digital trade.”
Wang highlighted prominent internet companies such as e-commerce giant Pinduoduo, online travel service provider Trip.com, and entertainment service iQIYI as examples of enterprises located there.
Luo Le, director of the Changning District Commission of Commerce, said the district has initiated a series of innovative policies that include a dedicated international internet data channel and free trade accounts, to elevate the business environment.
Wang and other officials, business people spoke at a promotional conference last week that was part of the “Invest in Shanghai” series events.
Located in the western part of Shanghai, Changning is close to the Hongqiao Comprehensive Transport Hub, which includes a major international airport and a high-speed railway station with frequent services to cities in the Yangtze River Delta.
In 2023, Changning’s local GDP broke a record 200 billion yuan ($27.56 billion), which was up 13 percent year-on-year.
Informa, an FTSE 100 company in the UK that specializes in events and exhibitions, was among those that opened offices in Shanghai in the early 2000s.
Andrew Galloway, a regional director of Informa Markets, said Shanghai has become their fastest-growing segment in the past 20 years.
“We’ve had an opportunity to bring lots of events and suppliers to Shanghai, and we’ve also created a platform for domestic clients within China to do business together and … to take business elsewhere around the world,” he said. “We look forward to exploring ways to expand our presence and anticipate a bright future.”
Wu Lin, secretary-general of the China Chamber of Commerce in the UK, reviewed previous cooperation between Changning and the UK during the conference, saying: “I am pleased to see the in-depth cooperation with UK enterprises that has already been established. I firmly believe there is great potential for collaboration in many more sectors in the future, such as IT services, the industrial internet, and digital medical services.”
Jiang Duo contributed to the story.