Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Xinhua Silk Road Database
Local

New Shanghai Pudong cluster aims to attract intl economic entities

July 28, 2021


Abstract : The New Bund Global Economic Organization Cluster was unveiled in Shanghai's Pudong New Area on Wednesday, which is part of Pudong's efforts to attract more international economic organizations and multinational companies' regional headquarters.

Tourists take photos at the Bund area of Shanghai. [Photo by Wang Gang/For China Daily]

BEIJING, July 28 -- The New Bund Global Economic Organization Cluster was unveiled in Shanghai's Pudong New Area on Wednesday, which is part of Pudong's efforts to attract more international economic organizations and multinational companies' regional headquarters.

According to the guideline released by the Communist Party of China Central Committee and the State Council on July 15, Pudong should pioneer China's socialist modernization and serve as a link between the domestic and international markets. To that end, more international economic organizations and industry leaders should make their presence in Pudong, as the guideline further pointed out.

Pudong New Area's deputy head Yang Chao said at the launch ceremony on Wednesday that the World Expo Area, where the lately unveiled cluster sits, will help Pudong to reach that goal as it has already become the prime option of many international organizations.

Over the past five years, a total of 10 international economic organizations, which is half Pudong's total, have set up offices in the World Expo Area, including the Institute of Chartered Shipbrokers, Logistics Alliance Germany and the Global Association of the Exhibition Industry.

As Zhao Yuan, deputy head of the administrative committee of the World Expo Area, explained, these organizations have helped to elevate Shanghai's image and influence in the international community and enhance the city's competitiveness.

On one hand, organizations such as International Chamber of Commerce have helped to connect international economic and trade rules so that Shanghai can open up to the international market more effectively.

Officially launched in July 2015, the New Development Bank is the first international organization which set its global headquarters in Shanghai. The bank has been the first multilateral bank to issue green bonds onshore in China in 2016. It is also the largest issuer of panda bonds in China. Its 30-story building located in the World Expo Area will go into use in September.

"None of this would have been possible if it was not for the supportive enabling environment created by the Shanghai and Pudong government," said Leslie Maasdorp, vice-president of the New Development Bank.

Another three international economic organizations, including the Chartered Institute of Management Accountants, Transport Asset Protection Association and Automotive Industry Action Group, reached agreements with the administrative committee of the World Expo Area on Wednesday to set up offices here. It is expected that more than 20 international economic organizations will have joined the cluster by the end of 2025.

(Source: China Daily)

Scan the QR code and push it to your mobile phone

Keyword: Shanghai Pudong

Reading:

The New Kinetic Energy Index of China's Economic Development grows rapidly in 2020, NBS

​Multiple regions in China mull to unveil more measures to boost economic growth in H2

4th CIIE attracts more leading companies than previous edition

China to advance large-scale development of 5G applications

【Financial Str. Release】SSE, SZSE release detailed rules to facilitate board-shift of NEEQ Select-listed firms

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Identifying code Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial