Hongkou District is leveraging its building economy to drive high-quality development, buoyed by a series of favorable conditions and policies.
The district hosted a promotion conference for key office buildings and signing ceremony for key enterprises on May 8.
In his speech, Hongkou District Director Lu Ming highlighted that Hongkou is using the development of the North Bund as a catalyst to focus on high-quality development and to shape a modern showcase of Chinese urban development.
With the full momentum of the North Bund, Hongkou is seeing a surge in vitality. He expressed hopes that business owners, building proprietors, and representatives from law firms, consulting firms, and trade associations will continue to collaborate closely with Hongkou to enhance the district's value and tell the "Hongkou Story."
Hongkou is committed to providing robust policy support and service guarantees to create a market-oriented, lawful, and international business environment, Lu said.
During the conference, the "Hongkou District Building Economy Development Alliance" was officially established.
The alliance aims to create a cooperative platform that integrates industry, resources, and services to enhance communication between the government, buildings, law firms, trade associations, and real estate consulting firms.
The initiative is expected to elevate the overall development level of buildings and foster a new chapter in the economic development of building properties.
Additionally, the event featured a signing ceremony where a number of key enterprises committed to setting up operations in the district, further boosting the local building economy and supporting regional economic development.
Since the start of the year, Hongkou's main economic indicators have exceeded expectations and led the city. The district has seen a continued positive trend in new enterprise registrations, with 1,520 new enterprises in the first quarter, a year-on-year increase of 118.4 percent, ranking second among central districts and first in growth rate across the city.
High-quality projects continue to be attracted to the area, highlighting the core advantages of Hongkou's central urban area. Key properties like the Raffles City The Bund have seen a rapid increase in tenancy rates, underpinning the district's robust building economy.
Looking forward, Hongkou will maintain its strategic focus on making the North Bund a "new benchmark for urban development in the new era," aligning with Shanghai's "central efforts" and actively integrating into the new municipal spatial layout.
The district aims to position itself as a cluster for corporate headquarters and a core area for the city's major functions by emphasizing industry alignment with central urban functions and continuously advancing towards higher ends of the industrial and service chains, the district government said.