On October 15, during an interview with General Manager Shi Guangyu of Hongkong Land’s Shanghai office, he reflected on the company’s role in shaping key global financial hubs such as Hong Kong and Shanghai in celebration of its 135th anniversary. “At the beginning of 2020, we recognized the vast development potential of the Xuhui District and made a firm decision to invest in the Shanghai West Finance City project,” he stated.
That same day, Xuhui District officially launched the signing ceremony for the third batch of major projects for 2024 and introduced the Shanghai Free Trade Zone Xuhui Collaborative Innovation Area.
According to a notification released in August, the Shanghai government has designated areas including Huangpu, Xuhui, Hongkou, Yangpu, Baoshan, Minhang, and several comprehensive bonded zones as key parts of the new collaborative innovation initiative. This plan aims to amplify the radiating effects of the Shanghai Free Trade Zone and foster a robust new momentum for the city’s open economy.
Xuhui District officials stressed that as one of the first collaborative innovation zones, they will align closely with the Shanghai Free Trade Zone and the Lin-gang New Area in terms of space, industry, and policy integration.
The blueprint for the Xuhui Collaborative Innovation Area intends to leverage the prestige of the Shanghai Free Trade Zone to focus on advancements in artificial intelligence and the digital economy, ultimately establishing a benchmark for technological innovation and a hub for the digital economy.
At the signing ceremony for the third batch of major projects in Xuhui, numerous projects were highlighted as part of this new wave of technological advancements. Wu Ming, founder of Shanghai Liangxi Technology Co., expressed optimism about the area: “Xuhui offers a concentration of innovation resources and high-quality government services, which ultimately influenced our decision to establish our business here.”
