In a robust push to establish itself as a preeminent international trade center, Shanghai implemented a national strategy in 1992, further defined by the State Council in 2001.

The city's strategic upgrades during the 13th Five-Year Plan period (2016-20) have solidified its status as a key global trade hub, expanded its influence, diversified its trade functions, and moved up the value chain – significantly strengthening the trade center's capabilities.

The city's total trade volume surpassed 11 trillion yuan ($1.51 trillion) for the first time last year, reaching 11.07 trillion yuan and marking a 3.9 percent year-on-year increase.

In recent years, Shanghai has made concerted efforts to promote the high-quality development of the Belt and Road Initiative. As of January 2025, Shanghai and its districts have signed friendship city agreements with 95 cities or regions in 59 countries. The service center of the Belt and Road Initiative is functioning effectively, complemented by the increased frequency of the China-Europe freight train service.

During the 14th Five-Year Plan period (2021-25), Shanghai is committed to improving the ease of trade and investment while enhancing its role as a trade hub.

Retail and e-commerce

As a testament to its burgeoning retail sector, Shanghai celebrated the opening of 1269 "first stores" in 2024, with high-end brands representing 17 percent of the total. The city now boasts over 8,000 coffee shops.

In addition, Shanghai has pioneered the establishment of the country's first pilot zone dedicated to "Silk Road e-commerce" collaboration. This zone features a streamlined customs process requiring only one declaration for both countries and interoperable cross-border e-invoicing.

The city has made significant advancements in cross-border e-commerce, with the successful implementation of an export pilot program that has notably reduced shipping times and costs.

China (Shanghai) Pilot Free Trade Zone

A number of pioneering pilot cases have been established in the fields of cross-border trade, financial services, and factor mobility as a result of a comprehensive plan to promote the high-standard institutional opening-up of the China (Shanghai) Pilot Free Trade Zone by aligning it with high-standard international economic and trade rules.

Pudong New Area has embarked on a comprehensive reform and its implementation plan was unveiled on Jan 22, 2024. The plan explores the creation of a secure and convenient data flow mechanism and aims to establish a global offshore innovation hub.

China International Import Expo

The 7th China International Import Expo held in 2024 attracted 129 countries, regions, and international organizations with intended transactions totaling $80.01 billion, an increase of 2 percent year-on-year.

Shanghai has officially launched the 365 Trade Fair website, providing a 365-day trading platform for buyers and exhibitors involved in the CIIE.

Updated: Feb 25, 2025

Sources: Shanghai Municipal Government Work Report, Shanghai Foreign Affairs Office, 2024 Shanghai Basic Facts, jiemian.com, Shanghai Municipal Commission of Commerce