As the economic, administrative, and cultural heart of Shanghai, Huangpu district is setting new benchmarks for urban development.

In 2024, the district's GDP stood at 334.4 billion yuan ($46.77 billion), expanding at an average annual rate of around 4.5 percent over the period 2021 to 2024. Its economic density reached 16.3 billion yuan per square kilometer, the highest in the city and among the top nationwide. The general public budget revenue hit 29.9 billion yuan in 2024, rising annually by over 6 percent, according to a municipal news conference on Aug 27.

This was the second of the news conference series reviewing Shanghai's achievements during the 14th Five-Year Plan (2021-25) period.

Reform and innovation drive stable growth

The district has been authorized to establish one of the first innovation zones linked with the China (Shanghai) Pilot Free Trade Zone, pioneering new models such as bonded display and trade.

The Huaihai-Xintiandi Import Demonstration Zone is currently under construction, and the city's first Authorized Economic Operator (AEO) certification guidance center has been launched.

Since 2021, 30 additional regional headquarters of multinational companies have been certified, bringing the total to 83, contributing about 10 percent to the district's total tax revenue.

Cumulative contracted foreign investment in Huangpu has reached about $8.3 billion, maintaining steady growth.

The district has introduced a series of industrial support policies and innovative measures focused on precise regulation and assistance services, enhancing its "Business-Friendly Huangpu" brand.

Huangpu has also built a high-quality talent development system and established the Bund Service Center for International Professionals to attract and serve global talent.

In 2024, Huangpu topped the city's business environment assessments and corporate satisfaction evaluations.

High-end industries fuel economic engine

The added value of the financial sector saw an average annual growth of 6.5 percent from 2021 to 2024, reaching 128.6 billion yuan in 2024, or accounting for 38.5 percent of the district's GDP and nearly one-sixth of the city's total financial added value.

In 2024, financial market transactions in the district totaled 2,601 trillion yuan, representing over 70 percent of the city's total.

The district was also approved to establish one of the city's first equity investment clusters and fintech clusters, while the International Monetary Fund Shanghai Regional Center was opened within the district.

The Central Science and Technology Innovation Zone is being developed in the Puxi Park, aiming to build an industrial system centered on fintech and achieve breakthroughs in future industries with the support of sci-tech services.

New initiatives such as the Robotics Industry Base and Brain-Computer Interface Innovation Center have been launched, attracting innovation entities rapidly to the district.

Major shopping areas, including Nanjing Road, Middle Huaihai Road, and Yuyuan Garden, have been upgraded, becoming Shanghai's model zones for refined night economy management.

The Shanghai International Jewelry Fashion Functional Zone and global product debut sites are under development, while key projects such as Century Plaza have already been completed.

The innovative integration of culture, tourism, commerce, sports, and exhibitions is fueling rapid growth in new consumption scenarios and formats. Events such as the Shanghai International Flower Show and the Yuyuan Garden Lantern Festival continue to boost consumer enthusiasm.

Centralized service counters have been set up in major shopping malls, making it easier for customers to claim refunds from all participating stores within the same mall.

In addition, The Central shopping mall has become one of the first locations in Shanghai to offer citywide service, accepting refund claims from all participating stores across the city.

Urban renewal improves living conditions

During the 14th Five-Year Plan period, Huangpu has completed large-scale urban renewal covering more than 37,000 households.

From 2023 to 2024, more than 7,000 households benefited from targeted renovations of old neighborhoods and buildings.

An urban renewal action plan has been developed for the Bund's second facade, the non-riverfront area. The Bund City Hall Plaza, formerly known as the City Hall, has been renovated, while refurbishment projects in key areas such as Xintiandi, South Bund, and Jinling Road are progressing steadily.

City strengthens residents' well-being

Huangpu is committed to enhancing the well-being of its residents, earning the title of "China's Happiest City" in both 2023 and 2024.

The district has promoted balanced, high-quality educational development, establishing a child-friendly pilot zone and a national experimental zone for compulsory education reform.

Healthcare services have become more accessible, with cloud-based telemedicine available in community health service centers, and pilot programs providing workplace and building-based health services.

The elderly care system has been improved, with the largest number of home care beds in the city and 63 senior meal service centers.

Employment support has been enhanced through "15-minute employment service circles". The "Huangpu Entrepreneurship Card" provides seamless assistance for starting businesses.

Cultural resources enhance city appeal

Huangpu attracts renowned artists and hosts premier cultural events. The Shanghai International Musical Festival was recognized as one of "Shanghai's Top 10 Cultural Brands" in 2022.

The district features 27 professional theaters and 101 new performing spaces, staging over 190,000 performances since 2021.

Huangpu is home to nearly 60 art museums, art centers, art galleries, auction houses, and art spaces, leading the city in quantity, quality, and density.

The district was also named as one of China's first "Cities Promoting Universal Reading", cultivating a lively reading culture where the stories of buildings come alive, neighborhoods invite exploration, and bookstores offer a mental banjo for the mind.

 

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