Hongqiao strengthens role as gateway for business, innovation, trade, and connectivity

Five years after the launch of the Hongqiao International Opening-up Hub, its core area, the Hongqiao International Central Business District, is emerging as a key node for business, innovation, trade, and connectivity.

A growing base for headquarters and professional services

From 2021 to 2025, Hongqiao added 210 city-recognized headquarters companies, bringing the total to 283. In the past year alone, 45 new headquarters companies were recognized, with combined annual revenue of 280 billion yuan ($40.53 billion).

Professional services have expanded rapidly, with the number of firms in the area doubling over the past five years. Hongqiao has attracted service providers in accounting, legal services, human resources, testing, inspection, and certification.

A new platform for R&D and emerging industries

The area is building a science and technology service center to support technology transfer, incubation, intellectual property services, and tech finance. Specialized platforms have also been launched in areas such as medical devices, engineering technology, and new energy.

Hongqiao is also home to China's first industrial cluster focused on brain-computer interface technologies, which has already attracted more than 40 companies and innovation teams.

The area now has around 24,000 science and technology service companies, along with a strong concentration of firms in the digital economy, automotive, new energy, and other emerging sectors.

Major R&D projects that have opened include Midea Global Innovation Park, Innovent Bio's global R&D center, and Porsche China R&D center.

From expo opportunities to year-round business

Hongqiao has built stronger links between major exhibitions and year-round business activity. The area has developed three year-round trading platforms linked to imported goods and exhibition resources, each generating annual sales of more than 10 billion yuan.

The Hongqiao Import Commodities Expo and Trade Center has expanded through 68 branch centers, while the 365 Trade Fair online platform helps connect exhibition and trade resources throughout the year.

Hongqiao is also building a system that encourages exhibitors to become investors and exhibits to become commercial products in the Chinese market.

The total value of imported goods in the area increased from 13.3 billion yuan in 2020 to 68.4 billion yuan in 2025.

The exhibition industry is also expanding. The National Exhibition and Convention Center (Shanghai) remains one of the world's leading venues by exhibition area, with international exhibitions accounting for more than 80 percent of all events.

One of China's most important transport gateways

In 2025, the Hongqiao hub handled 422 million passenger trips, making it one of the busiest integrated transport hubs in the world. Average daily passenger flow exceeded 1.15 million, while peak single-day traffic reached 1.71 million.

Shanghai Hongqiao International Airport also crossed a major milestone in 2025, with annual passenger throughput exceeding 50 million for the first time.

A new airport link line now connects the Hongqiao airport and Shanghai Pudong International Airport in around 40 minutes, making transfers between the city's two main aviation gateways much easier. Metro extensions, rail links, and highway upgrades are also improving access to the area.