The "Passionate North Bund, New Development for Enterprises" event, part of the Shanghai Business Environment Tour, was held at the Design Innovation Institute Shanghai in North Bund on September 9.
The event was an important initiative by the Hongkou District Government to showcase and promote its ongoing efforts to optimize the local business environment.
The event saw the launch of the Hongkou District's Business Environment Branding Season, highlighting various reforms and services aimed at supporting businesses, particularly small and medium enterprises (SMEs).
Hongkou District Party Secretary Li Qian and Deputy Director of the Shanghai Development and Reform Commission Chen Yanfeng led the launch. Senior representatives from major financial institutions, including Tu Hong, President of the Bank of Communications Shanghai Branch, also attended the event.
In recent years, Shanghai has made significant efforts to enhance its business environment, focusing on providing more benefits and convenience to enterprises.
Hongkou District, in particular, has been proactive, rolling out its business environment action plans from 1.0 to 7.0, which include a total of 764 reform measures aimed at improving government services, fostering business-friendly policies, and boosting the district's economic appeal.
These efforts have led to tangible results for Hongkou's economic development. In the first half of 2024, the district's GDP increased by 7.5 percent, making it the second-highest growth rate among Shanghai's districts.
Additionally, Hongkou saw a 53.8 percent rise in new business registrations, with 4,197 new enterprises established from January to July.
Foreign direct investment reached US$3.27 billion, a 24.8 percent increase, placing Hongkou among the top three districts in the city for investment growth. Fixed asset investment also rose by 14.8 percent, further demonstrating the district's upward economic trajectory.
At the event, Hongkou unveiled 20 district-level and eight subdistrict-level business environment initiative. Five of these initiatives have already been recognized as city-level innovation pilot projects for 2024.
These include efforts to establish the North Bund International Legal Service Hub, innovative financing services for enterprises, a coordinated platform for the development of North Bund, streamlined human resources services, and enhanced tax services for businesses.
One of the highlights of the event was the introduction of Hongkou’s enterprise financing support measures.
Since 2022, the district has been addressing the challenges of SME financing through its "Three Loans Linkage" initiative, which includes trust loans, corporate loans, and technology performance loans.
This initiative has provided financing solutions for more than 1,600 enterprises, facilitating nearly 9 billion yuan in funding.
In 2024, Hongkou expanded these efforts with the launch of the "Hongkou Seconds Loan" program, which offers fast, streamlined credit services to SMEs.
Sixteen banks are participating in this program, and the first batch of thirteen pilot parks and buildings are actively involved. The initiative has already pre-approved credit lines totaling 1.23 billion yuan for 727 enterprises, with 19 enterprises receiving 260 million yuan in loans.
In addition to financial support, the district also emphasized its commitment to improving the overall development environment for enterprises.
Measures include the creation of a “pro-business” platform to facilitate communication between government and businesses, the launch of targeted services for companies expanding internationally, and ongoing efforts to help businesses navigate regulatory requirements.
Representatives from the district’s development and reform commission also engaged in direct dialogue with local enterprises as part of the “Government-Business Express” initiative, one of Hongkou’s hallmark business environment programs.
This initiative provides a platform for companies to communicate directly with government officials about challenges and opportunities.
In attendance were over 150 representatives from government agencies, local businesses, financial institutions, and business parks, as well as media observers, who gathered to learn more about the district's business environment reforms and to witness the signing of partnership agreements.
The event underscored Hongkou’s commitment to providing a supportive, dynamic, and innovative environment for businesses to thrive, with a particular focus on financial accessibility and service efficiency.