Putuo achieves impressive growth in foreign trade in H1

Shanghai's Putuo district has emerged as a frontrunner among the city's 16 districts in foreign trade in the first half of this year, boasting a remarkable 27.7 percent year-on-year increase in imports and exports.

In a bid to bolster the development of foreign trade and investment enterprises, Putuo has established a regular visitation mechanism with relevant businesses based in the district. This initiative aims to strengthen the synergy between the government and enterprises, providing a platform for seamless communication and collaboration.

Additionally, the district has been actively arranging for local companies to participate in overseas exhibitions, facilitating the promotion of high-quality products on the global market.

A key focus for the district has been supporting high-tech enterprises and "specialized, refined, and innovative" small and medium-sized businesses in expanding their import and export operations, thereby driving a shift towards higher value-added businesses.

Furthermore, the district is witnessing a rapid growth of the headquarters economy, with a total of 41 regional headquarters of multinational corporations.

The commitment to enhancing the business environment for international trade has been a consistent theme in Putuo's plans over the recent eight years.

The district's commission of commerce said that foreign trade enterprises and their import-export operations remain pivotal to the district's economic development agenda. Action plans for optimizing the business environment have been unveiled with focus on facilitating cross-border e-commerce and helping small and micro businesses to mitigate risks.