On the heels of the global promotion event, Hongkou District officially launched its "Business Environment 8.0 Action Plan" at the Design Innovation Institute Shanghai.
The new initiative aims to further optimize Hongkou's business environment and enhance its appeal to investors and enterprises in the coming years.
For Hongkou, business environment reform has been an ongoing priority, one that remains central to the district’s high-quality development.
Over the years, Hongkou has consistently placed business environment optimization at the core of its broader reform strategy.
The district has fully implemented the policies set forth by the State Council and the Shanghai Government, evolving its business environment framework from versions 1.0 to 7.0.
A total of 744 reform initiatives have been carried out, focusing on reducing processes, costs, materials, and time, while improving service quality.
In 2024, Hongkou achieved notable results in various economic indicators, leading the city in several key areas.
The district's GDP reached 152.45 billion yuan, with a growth rate of 8.2 percent, the highest in Shanghai.
Foreign direct investment also soared, with US$438 million in inflows, up 35.8 percent year-on-year. Additionally, the number of newly established enterprises in the district hit 6,399.
Looking ahead to 2025, Hongkou is set to implement the latest round of reforms under the “Business Environment 8.0 Action Plan.”
This plan, which includes 48 reform measures across five core actions, will prioritize enhancing enterprise satisfaction by making the district more conducive to business growth and development.
The first action focuses on improving government services for enterprises, addressing issues such as policy formulation, government administration, foreign business, and small and private companies.
A total of 21 initiatives will be introduced, particularly streamlining policy guidelines, making policies more accessible, and introducing more "instant benefits" for businesses to reduce administrative burdens. This move is designed to shift the government’s role from "policy approval" to "policy service."
The second action aims to improve the regulatory framework, enhancing the quality and efficiency of market supervision.
This will include 7 key initiatives, focusing on areas such as market regulation, public safety, fire services, drug supervision, health services, and cultural tourism.
Hongkou will implement a new regulatory system featuring "one code" for administrative checks and two transparency lists to ensure smooth inspections.
The district is also committed to maintaining the principle of "no disturbances" for businesses and introducing random inspections.
The third action seeks to foster a more dynamic industrial environment by optimizing services for key industries.
Six measures will be introduced to enhance the industry development environment, particularly by creating tailored solutions for different sectors in Hongkou, including pillar industries, emerging industries, and specialized sectors.
The strategy aims to make Hongkou more attractive to industrial players and investors.
The fourth action is centered on fostering innovation and technological advancement. With a focus on strengthening Hongkou’s linkage to the Shanghai Free Trade Zone and improving the business environment for major infrastructure projects, this action includes 6 reform measures.
Notably, it emphasizes the promotion of cross-border financial services, temporary arbitration for foreign commercial and maritime disputes, and the advancement of the shipping and trade sector, as well as the integration of financial technology and green industry initiatives.
The final action focuses on empowering local communities and building a better atmosphere for businesses at the street level.
Eight initiatives will be implemented to stimulate grassroots innovation, improve regulatory processes at the street level, and encourage urban activities such as nighttime economies and outdoor dining.
This action aims to make Hongkou's streets more vibrant, offering dynamic business opportunities and improving urban life.
In the years to come, Hongkou will continue to refine its business environment based on the principle of enterprise satisfaction.
The district is committed to innovating, being proactive in implementation, and striving to establish an international-level business environment that attracts both local and global talent.
Hongkou District’s efforts to optimize its business environment and continue to grow its economy are part of a broader effort to make the district a key player in Shanghai's global business landscape.
With more reforms on the horizon, Hongkou is positioning itself as a hub for international investment and entrepreneurship.
The strategic focus on business environment optimization will undoubtedly be crucial in attracting more companies and investment, paving the way for sustainable economic growth in Hongkou and Shanghai as a whole.