Hongqiao rises as premier hub for opening-up

The Hongqiao International Opening-up Hub, an area that spans Shanghai and parts of its neighboring Jiangsu, Zhejiang, and Anhui provinces, has grown into a regional hub of high-standard opening-up after five years of development, according to a news briefing held on March 19.

GDP of the "one core, two belts" of the Hongqiao International Opening-up Hub, namely the Shanghai Hongqiao International Central Business District and its north and south extension zones, rose from 2.3 trillion yuan ($334 billion) in 2020 to 3.3 trillion yuan in 2025, achieving an economic density 4.9 times the average level of the broader Yangtze River Delta region.

The hub now hosts a growing number of headquarters of multinational corporations, headquarters of private enterprises, foreign-funded R&D centers, and trading headquarters, said Chen Guozhong, deputy director of the Shanghai Municipal Development and Reform Commission.

Enhanced connectivity makes the commute easier for residents in the area. Wendy Wu, head of the Shanghai Representative Office of the Institute of Singapore Chartered Accountants, said: "Taking the high-speed train at Hongqiao hub is as simple as taking the subway now."

The Hongqiao hub handled 422 million passengers in 2025. High-speed rail lines from Hongqiao Railway Station now provide access to 60 percent of the cities and 72 percent of the population within the YRD region within a two-hour radius.

Chinese firms are using the area as a springboard for international expansion. Guo Xiangyang, chairman of China BSK New Energy Limited, said: "Settling in Hongqiao is the optimal solution for us to realize the vision of 'headquarters in Hongqiao, factories across the country, and markets around the world'."

BSK New Energy, which recently established its headquarters in the Hongqiao International Central Business District, is building a recycled lithium demonstration base in Huai'an, Jiangsu province.

The Hongqiao "cross-border e-commerce and industry belt" pilot zone aids companies in exploring new trade opportunities.

Zhu Hui, general manager of Shanghai Hongqiao Huanqiu Cross Border E-commerce Co Ltd, which operates the zone, said: "We will use intelligent technology to connect with platforms such as Amazon and eBay to achieve full-process traceability for overseas expansion and solve challenges such as overseas data declaration and export tax rebates to better support YRD enterprises in going global."

The Hongqiao International Low-Altitude Economic Industrial Park is attracting companies such as drone chip manufacturer XinChen Times Electronic Technology (Shenzhen) Co Ltd, which is relocating to the park.

The "one core, two belts" area accounts for 31 percent of the YRD's national advanced manufacturing clusters and houses nearly 1,100 new national-level innovation-driven "little giant" enterprises and approximately 40,000 new high-tech companies.