The Hongqiao International Central Business District is pioneering the work of outward looking Chinese companies in the Yangtze River Delta region with its comprehensive transportation networks and industrial clusters, according to company representatives.
One such success story is Ningguo Feiying Auto Parts Co Ltd. Assisted by the International Industrial Collaboration Platform of Hongqiao Overseas Development Service Center, the company signed an agreement in May with Majesty Group from the Republic of Ghana to jointly build a factory in the African country. Under this partnership, Feiying will help to build a national automobile brand and related industrial system in Ghana.
Similarly, Shanghai Trustlink Technology Development Co Ltd, which established its headquarters in Hongqiao in 2022, completed its first ever overseas direct investment at the beginning of the year by providing advanced service systems and technologies in Indonesia.
Companies have found that demand has grown in line with the expansion of the Belt and Road Initiative. The investment services provided by Hongqiao Overseas Development Service Center have significantly reduced turnaround time. For example, the cross-border financial blockchain service platform at the Hongqiao International CBD helped Trustlink complete foreign exchange registration and capital remittance for the Indonesian project more efficiently, said Pan Kongren, head of Trustlink's overseas business department.
According to Zhu Yinghua, head of investment promotion and the public services center for the International CBD, Hongqiao aims to upgrade the success of one single project into an institutional project by exporting standards, innovating business models and empowering businesses with the most up-to-date technologies. In this way, Hongqiao can transform itself from a transportation hub into a center of value chain facilitating global industrial coordination, he said.
The local government has made consistent efforts to improve its services and build a better business environment.
The Hongqiao Global Investment and M&A Online Project Pool was officially unveiled in March last year. To date, the online pool has attracted more than 1,300 overseas fundraising projects and overseas investment requests.
The Hongqiao pioneering zone, combining cross-border e-commerce and industrial belts, was launched on July 9. The zone has attracted the settlement of 121 cross-border e-commerce platforms since then, with a combined export value approaching 1.61 billion yuan ($230 million).
Hongqiao International Talents Service Center went operational in March 2024, providing almost 90 different kinds of services, covering government, life, employment and startups. The center has served 55,000 people so far this year, 13,000 expatriates among them.
