Shanghai's Changning district, a vital gateway linking the city with the Yangtze River Delta and international markets, has leveraged its strategic location, digital innovation, and openness to the world since the beginning of the 14th Five-Year Plan period (2021-25).

In 2024, its GDP hit 278.9 billion yuan ($39.16 billion), 1.8 times that of 2020, with an annual average growth rate of 7.8 percent from 2021 to 2024. The district-level general public budget revenue reached 18 billion yuan, growing annually by 8.8 percent, according to a municipal news conference on Sept 23.

Economic growth

Over the first four years of the 14th Five-Year Plan period (2021-25), Changning's district-level accumulative general budget revenue grew by more than 5 billion yuan.

The district is home to the Shanghai Arch, a landmark business building that has set a benchmark by contributing over 10 billion yuan in annual tax revenue.

From 2021 to 2024, the district's 74 key business buildings collectively increased tax contributions by nearly 20 billion yuan, enhancing space utilization efficiency.

Changning has developed four major industrial clusters in software information, transportation, wholesale and retail, and leasing and business services. Each generates an annual output value reaching or exceeding 100 billion yuan.

The district's software information service sector saw an annual growth rate of 24.8 percent in added value from 2021 to 2024, the highest in the city.

Its e-commerce platform transactions reached 1.62 trillion yuan, growing annually by 17.7 percent and accounting for one-third of the city's total.

The district is also seen as a trailblazer in the digital economy and low-altitude economy.

Reform and opening-up

Changning is actively boosting the development of the Hongqiao International Open Hub. The East Hongqiao area achieved an annual average tax revenue growth rate of 13.6 percent, contributing over 40 percent to the tax revenue of the Hongqiao International Central Business District.

Since the start of the 14th Five-Year Plan period, the district has added 22 new regional headquarters of multinational corporations, bringing the total number of various headquarters and R&D centers to 153.

The district has strengthened its business environment with a package of measures, becoming one of China's first network market supervision and service demonstration zones, and the only one in Shanghai.

It also issued the country's first comprehensive permit for a wholly foreign-owned shopping center.

In addition, it established the country's first escrow platform for prepaid funds in the fitness and education sectors, ensuring greater financial security for consumers.

Sci-tech innovation

Changning is making significant strides in sci-tech innovation with the development of the Shanghai Silicon Alley, a sci-tech innovation block featuring nearly 900 innovative enterprises and a proof-of-concept center for integrated circuit application and innovation.

The district, in collaboration with the Shanghai Institute of Microsystem and Information Technology and the Shanghai Institute of Ceramics under the Chinese Academy of Sciences, established the Digital Silicon Alley (Shanghai) Incubator to foster innovation and accelerate the commercialization of sci-tech achievements.

Changning's sci-tech-focused financial service hub and the district-owned private equity fund management institution are enhancing financial services for sci-tech development.

The district has upgraded the Shanghai Hongqiao One-Stop Service Center for Overseas Talents, serving over 140,000 professionals from around the world.

Source: Official WeChat account of the General Office of the Shanghai Municipal People's Government at "shanghaifabu"