Hongqiao Intl CBD achieves robust economic growth in Q1

The Shanghai Hongqiao International Central Business District (CBD) reported strong economic performance in the first quarter of 2026, with double-digit growth across multiple indicators.

The district's tax revenue reached 15.38 billion yuan (about $2.3 billion), up 10.4 percent year-on-year, outpacing the city's average by 2.7 percentage points. Retail sales above a designated scale surged 25 percent year-on-year to 19.03 billion yuan, exceeding the municipal average by 19.5 percentage points.

Foreign trade maintained robust momentum, with total imports and exports rising 43.4 percent year-on-year to 28.43 billion yuan, while foreign direct investment in actual use jumped 241.6 percent year-on-year to $390 million.

The number of newly registered enterprises grew 28.7 percent year-on-year to 3,292, while the number of newly established foreign-funded enterprises increased 26.8 percent year-on-year to 104.

The CBD attracted 261 key industrial and investment projects with registered capital of at least 10 million yuan each, with a total contracted investment of 14.85 billion yuan, up 33.8 percent year-on-year. Existing enterprises made 51 additional investments exceeding 10 million yuan, totaling 7.07 billion yuan.

The service sector performed strongly, with the technology services industry recording 42.1 percent year-on-year growth, significantly outperforming the city's average.