A delegation from Xuhui district visited Frankfurt, Germany on April 8, signing a series of cooperation agreements with local economic and trade institutions and enterprises.

Frankfurt, located alongside the Main River, is not only an important economic engine, but is also one of Europe's top financial hubs.

At the event, a branch of the Shanghai Xuhui Overseas Investment Promotion Service Center was also established in Frankfurt.

Xuhui district, as part of Shanghai's central urban area, is one of the city's most popular destinations for foreign investment. It is currently home to 3,400 foreign-funded enterprises and 170 regional headquarters of multinational corporations and foreign-funded research and development centers.

The district is now working to develop a national-level hub for artificial intelligence, exemplified by the establishment of the nation's first SMC Shanghai Foundation Model Innovation Center.

In recent years, over 180 German enterprises, including Adidas, BMW, and Bosch, have invested or expanded their operations in Xuhui district.

Manuel Pauser, vice president of global government and community affairs at Adidas, spoke highly of Xuhui district's abundant resources and thriving business environment, saying that the company plans to open two more high-profile stores in the area.

An official from the investment promotion service center highlighted the synergy between Xuhui district's innovation-driven development and Germany's Industry 4.0 initiative focusing on digitization.

The district looks forward to having more German "hidden champions" — small and medium-sized companies with strong market niches — join its creative community, the official said.

Xuhui district has been attracting foreign investment by sending delegations abroad and has established cooperative relations with countries such as Singapore, France and Germany.

In 2024, Xuhui district had the largest GDP of Shanghai's central urban areas. Foreign-funded enterprises account for 17 percent of all enterprises in the district and half of its economic output.

Source: Xuhui district