Government News
Hongkou sees significant growth in shipping, tourism, and foreign investment over past five years 2025-11-12
The Sinar Mas Plaza on the North Bund
Hongkou District has attracted more foreign investors and expanded its shipping, finance and tourism sectors during the 14th Five-Year period (2021-2025).
It is also building its waterfront into a new magnet for visitors both home and abroad, district officials told a press briefing on Wednesday.
The number of foreign-invested enterprises has increased by more than 500 in the past five years. Multinational headquarters have grown to 112, a fivefold increase from the previous five-year period said Li Qian, the Party Secretary of Hongkou.
The district has launched the North Bund International Legal Service Port, which offers legal, tax, and human-resources services for companies operating in China.
It has also become one of Shanghai's pilot zones for high-end service industries, free-trade innovation, and equity investment clustering.
"By deepening reform and openness, we are building Hongkou into a new benchmark for metropolitan development," Li said.
Several major international firms have set up operations in Hongkou. They include Amundi, the French asset manager, and Aegon, the Dutch life insurer.
The district is also home to a growing number of fintech and quantitative fund companies – about one-fourth of China's 10-billion-yuan-scale quantitative funds are based there, according to official figures.
The INLET, a preserved shikumen, or stone-gate, complex blending shopping, tourism and cultural events
Hongkou's waterfront at the junction of the Huangpu River and Suzhou Creek has become one of Shanghai's busiest shipping areas.
Chen Shuai, deputy director of Hongkou, stated that the area currently manages approximately 60 percent of Shanghai's shipping brokerage, nearly 70 percent of the ship capacity, and around 80 percent of the waterway cargo turnover.
Additionally, the North Bund is responsible for handling over 90 percent of sea-cargo clearance for Shanghai's port.
The shipping industry's contribution to Hongkou's economy has tripled from the previous five-year period, now making up over 23 percent of total output, Chen said.
Hongkou's 3.4-kilometer waterfront has become a major attraction for both residents and visitors.
"Cruise ships, yachts and sightseeing boats now dock along the same stretch of the river," said Li. "We are actively creating a national-level tourism resort zone."
Between 2020 and 2025, Hongkou received 138,000 inbound cruise passengers, said Tong Ke, director of the Hongkou Culture and Tourism Bureau.
The North Bund Music Carnival during the National Day holiday attracted more than 120 million online views.
The district introduced the "Shanghai Pass" system for international visitors and themed routes connecting landmarks along the Huangpu River and Suzhou Creek.
The Bund waterfront in Hongkou has hosted numerous large-scale cultural events. The Shanghai International Coffee Culture Festival on May Day drew 400,000 people.
The North Bund Music Carnival during National Day attracted over 120 million online views.
"The riverbank has become a stage that blends culture, lifestyle and tourism," Tong said. "Visitors can drink coffee by the water, watch drone shows, and enjoy performances under the skyline."
Hongkou's growth in shipping, finance, and tourism aligns with Shanghai's ambition to become a global hub for trade, finance, and shipping.
"We will continue to focus on the North Bund as the engine of development," said Li.
"By linking international industries and services, Hongkou will contribute to building Shanghai into a world-influential modern metropolis."
The urban renewal on the Sichuan Road N. commercial street in Hongkou
Source: Shanghai Daily
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