Shanghai's Putuo district introduced a comprehensive set of initiatives to enhance its business environment and attract investment during a conference on Feb 26.

These measures, aimed at fostering economic growth and supporting enterprises, were unveiled as part of a strategic action plan designed to elevate the district's appeal to investors and businesses.

The action plan comprises 88 measures focused on enhancing full-cycle services, improving convenience, and nurturing new high-quality productive forces, all geared towards providing enterprises with a more favorable and efficient business environment.

Putuo district successfully secured a total of 154 key projects in 2024, generating a revenue of 16.68 billion yuan ($2.3 billion).

This marked an impressive 8 percent increase compared to the previous year, positioning the district as the third-highest among all districts in Shanghai in terms of growth rate, as reported by the district government.

Putuo district joined forces with seven cities in Jiangsu province, including Nanjing, Wuxi, Changzhou, Suzhou, Nantong, Zhenjiang, and Taizhou, to launch the Shanghai-Nanjing industrial innovation belt cooperation initiative.

This collaborative effort aims to harness regional synergies and attract high-quality companies and projects to establish a strong industrial innovation belt, serving as a vital economic matrix for the development of the Yangtze River Delta region.

As part of this initiative, a life sciences industrial map was unveiled, alongside the launch of an intelligent software industrial innovation ecosystem with a scale of hundreds of billion yuan.

Furthermore, Putuo district introduced an integrated investment promotion service platform featuring a "1+3+1" service function system. This platform includes a comprehensive database, three major service functions focusing on investment promotion, carrier services, and enterprise support, respectively, as well as an investment promotion tool leveraging artificial intelligence and big data.

The district's proactive approach towards creating a conducive business environment and fostering innovation has garnered praise from industry leaders and investors alike.

Rasmus Halstenberg, the CEO of Deutz, a German internal combustion engine manufacturer, commended Putuo district's initiatives in talent recruitment, policy support, market oversight, and other key areas, expressing confidence in the district's future prospects.