Jiading District has set targets to increase tax revenue by around 30 percent, introduce more than 50 projects, each with investment of above 100 million yuan (US$15.38 million), and attract at least 10 headquarters into the district in 2022.

This year, about 30 key projects will be implemented in the North Hongqiao Business District.

The construction of the global headquarters of Huazhu Hotels Group is expected to be completed in May and start operating in June.

With an investment of nearly 1 billion yuan, the headquarters will become a base for office, research and innovation base for the Internet industry, financial settlement center and hotel.

Located in the business district, it is estimated to generate 300 million yuan in tax for Jiading in the coming three years.

As the business district covers the entire Jiangqiao Town with an area of 42 square kilometers, it will become a driver of building the north expansion zone of Hongqiao International Open Hub.

NIO's international business headquarters is also located in Jiangqiao, with nearly 100 mu (6.7 hectares) of research and development land planned.