Shanghai's Jing'an district has recently inaugurated an international human resources innovation hub, marking a significant step towards becoming a globally influential player in the HR sector. 

The hub has set the targets of achieving an output value of 5 billion yuan ($689 million) within a year, and 20 billion yuan within five years.

The district is home to 470 HR service agencies, serving customers in over 180 countries and regions worldwide. 

From January to October, the district's HR service agencies above a designated size — those with an annual revenue of 20 million yuan or more — generated a total revenue of 45.6 billion yuan, up 12.6 percent year-on-year.

On a broader scale, Shanghai remains the national leader in the HR services sector. By the end of 2023, the city had over 4,000 HR service agencies, with a total annual revenue of over 500 billion yuan.

Sources: Shanghai Observer and chinanews.cn