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Press Release for Media Briefing of the Shanghai Municipal Government on September 14, 2023


the morning of yesterday (September 14), the Information Office of Shanghai
Municipality held the 11th press briefing on “High-Quality Development in Shanghai”
(Hongkou District special session) under the theme of “North Bund in Shanghai,
New Uban Benchmark.” Li Qian, Secretary of the CPC Hongkou District Committee,
introduced the details of Hongkou District’s achievements and work plans for
promoting high-quality economic and societal development. Lu Ming, deputy Party
Secretary and chief of Hongkou District, Cheng Jun, director of the North Bund
Development Office of Hongkou District, Wan Jianhui, director of the Hongkou
District Development and Reform Commission, and Li Ji, director of the Hongkou
District Financial Work Bureau attended the press briefing and answered
questions from reporters.

Hongkou stands at the confluence of the Huangpu
River and the Suzhou Creek, nestled within a landscape that boasts a rich
history spanning centuries on either side of the Huangpu River. This strategic
location confers upon Hongkou unmistakable advantages and a deep reservoir of
developmental achievements. With the approval of the North Bund’s new
development and construction plan in 2020, Hongkou has taken proactive steps to
propel the realization of this ambitious blueprint. At the forefront of this endeavor,
Hongkou District is expeditiously advancing towards a future characterized by
high-quality development, striving tirelessly to establish itself as an
exemplary standard-bearer for urban progress in this new era.

Firstly, the
ambitious vision for the North Bund has been swiftly transitioning from a grand
blueprint to detailed construction plans, with an accelerated pace guiding this
transformation. We are deeply committed to implementing the new development
concept and steadfastly pursuing our goal of “creating an outstanding image
within three years, shaping functionalities within five, and achieving
substantial completion within a decade.” To achieve this, we are harnessing the
collective strength of the city and the district, and tapping into global
expertise to expedite the organic revitalization and transformative growth of
the North Bund. In tandem with this, we are establishing and enhancing our
development and construction mechanisms. We are diligently preparing a
comprehensive “master plan” while simultaneously delving into the refinement of
specialized plans for the central green axis, underground spaces, and
neighborhoods deserving of stylistic preservation. The renovation of
second-level and lower-tier old houses in the area was successfully concluded
in the first half of 2021, paving the way for accelerated development and
construction efforts. Furthermore, substantial progress has been made in
bringing key projects to fruition. The Grand Halls has been completed and
opened to the public, and several upscale business establishments like Sinar
Mas Plaza, Raffles City The Bund and AIA Financial Center are now operational.
Notable landmarks, including the towering 480-meter Puxi new landmark, Shanghai
North Bund Center, and the China Central Place Shanghai on the iconic 59th plot,
have commenced construction. In total, 22 major projects, representing a
combined investment exceeding 80 billion yuan, are gaining momentum in their
development and construction phases. “One River, One Creek and One Port” is now
fully accessible to the public. The North Bund Maritime Park has undergone revitalization
and reopened to the public. Significant events like the North Bund Forum and
the Shanghai Rowing Open were held, while the city-level tourist resort captivated
visitors with unforgettable experiences. More than 120,000 tourists flocked to
the North Bund during the May Day holiday, marking a fivefold increase compared
to the same period in 2019. It has unequivocally emerged as a premier vantage
point for witnessing Shanghai’s timeless allure and the achievements born of
our enduring commitment to reform and opening up.

Secondly, the momentum in establishing new
benchmarks for urban development has been steadily on the rise. Positioned as a
pivotal hub within Shanghai’s central urban areas, the district steadfastly
upholds a commitment to robust internal and external opening-up, which has led
to a remarkable surge in its investment appeal and core competitiveness. Since
the outset of this year, the district has been actively engaged in investment
promotion efforts in Hong Kong, Singapore and Japan. It has successfully
attracted 106 key projects, boasting a collective investment exceeding 60
billion yuan. In the first eight months of the year, the cumulative registered
capital of newly established enterprises surged to 23.6 billion yuan, securing
the district’s top ranking within central urban areas. Furthermore, foreign
investment in the district during the January to July period reached US$262
million, marking a substantial year-on-year increase of 22.9%. This impressive
growth came together with the addition of 15 new municipal-level and district-level
headquarters enterprises. Additionally, notable functional institutions such as
the Shanghai Representative Office of the International Chamber of Shipping
(ICS) and the Shanghai Asset Management Association have chosen to establish
their presence here. The district has become an attractive magnet for
international financial powerhouses, with institutions like the Netherlands-based
Aegon Life and Canada-based Manulife rapidly converging in the district. The
successful trip by hidden champion enterprises to Hongkou has catapulted the
regional economy to a higher echelon within the industrial chain. Both the link
and service chains are now advancing into the high-value chain segment. The
shipping, aviation and financial sectors have seen continuous enhancement in
their advantages. Presently, the North Bund boasts a consolidation of over
4,500 shipping companies and nearly 40 functional institutions. In the
financial arena, it hosts more than 2,100 diverse financial companies and
institutions, with an asset management scale exceeding 8 trillion yuan.
Additionally, the district boasts a remarkable 15 private equity firms with
investments totaling in the tens of billions, ranking first in the city. These
two dominant industries jointly contribute over 30% to the regional economy. In
terms of fiscal performance, from January to August, the district achieved a
general public budget revenue of 15.442 billion yuan, registering a year-on-year
increase of 10.1% and attaining 80.1% of the full-year target. The growth in
both total amount and growth rate positions the district fourth in the central
urban area and the first in terms of completion progress.

Thirdly, the district’s commitment to
people-centric urban development continues to blaze new trails. We are deeply
dedicated to embracing the pivotal concept of the People’s City, where we
consistently allocate the finest resources for our residents and provide them
with high-quality amenities. In our pursuit of environmentally responsible
living, the adoption of a low-carbon lifestyle has emerged as a vibrant trend.
A notable catalyst for this shift was General Secretary Xi Jinping’s engagement
with the volunteers involved in garbage classification on Jiaxing Road
Community, marking his first response to them in five years. This interaction
ignited a profound sense of purpose within the district, compelling us to delve
deeper into the realms of garbage classification and resource utilization. The
effectiveness of our garbage classification efforts now stands among the city’s
best, with a 35% reduction in daily dry waste compared to 2018, coupled with a
notable 200% increase in the daily volumes of recyclables. In the domain of
urban renewal, we’ve achieved remarkable breakthroughs. Since the start of the
year, 440 households have signed contracts for old-housing renovation projects.
Ruikangli has been selected as the city’s urban renewal pilot initiative, and
we are actively promoting the “Beautiful Homes” program covering 2.5 million
square meters. Particularly commendable is the first major progress made in
addressing housing safety concerns in Baoming New Neighborhood e over the past
decade. On June 26, a round of consultations was initiated, with an impressive
consent rate of 98.4%. Our social governance framework has evolved into a
distinct asset, characterized by innovation at the grassroots level. The
collaborative mechanism, seamlessly integrating police stations, judicial
offices, and law firms, has emerged as a hallmark innovation, subsequently
replicated and adopted throughout the city. This “Fengqiao Experience" in
Shanghai under the new era is emblematic of our commitment to effective social
governance. This year alone, we’ve resolved over 13,000 conflicts and disputes
of various types, with more than 98% successfully resolved on-site at the
grassroots level. Notably, the number of police reports related to disputes has
decreased by 19.4% month on month.

Embarking on this new journey, Hongkou District
is keenly attuned to its regional realities. Our commitment to achieving
high-quality development hinges on optimizing resource allocation and
bolstering our leadership in innovation. To this end, we have devised a
comprehensive set of implementation strategies that weave innovation throughout
every facet of our development plan. Our goal is to expedite the realization of
our vision for the “North Bund in Shanghai, Golden Triangle along Huangpu
River,” ultimately setting a new standard for urban development in this
transformative era and serving as a prominent showcase of Chinese-style

Firstly, we are embracing a global perspective
and bolstering our resource allocation capabilities. As we build the North Bund
in Shanghai and shape the foundations for a new urban benchmark, we must not
only enhance physical transformation, but also fortify our global resource
allocation functions and cultivate the core competencies that will guide us
into the future. Internally, we are dedicated to resource integration,
meticulously focusing on optimizing our limited spatial resources. We prioritize
seamless coordination of resources across the region, facilitating regional
synergy, exploiting complementary strengths, and enhancing overall efficacy.
This approach allows us to maximize the utilization efficiency, carrying
capacity, and output efficiency of our resources. On the external front, our
focus lies in amassing and radiating influence. We actively engage in serving
and aligning with the construction of Shanghai’s “Five Centers” and “Four Functions.”
We deepen our commitment to high-level reform and opening up, relentlessly
pursuing market-oriented global platforms, institutions, and enterprises to
converge in Hongkou. Our aim is to attract global capital, talent, technology,
and information, among other critical strategic assets, thus elevating our
resource allocation capabilities to new heights.

Secondly, we will foster a development-oriented
approach, with a sharp focus on elevating the industrial landscape. Building
upon Hongkou’s existing “2+4+X” industrial framework, we are committed to
vigorously advancing the internationalization, digitalization, sustainability,
and distinctive development of our industries. To amplify our international
footprint, we will optimize the utilization of foreign capital, particularly in
strategic sectors such as finance and shipping. We are actively cultivating an
international cooperation zone dedicated to shipping services and trade.
Furthermore, we are deepening our global investment partnership plan, actively
seeking partnerships with high-growth hidden champion companies. Our emphasis
is on nurturing professional services and production-oriented service sectors
that can seamlessly integrate into the mid- to high-end tiers of the global
value and industrial chains, thereby enhancing the international stature of our
industries. In terms of digitalization, we are propelling forward the adoption
of digital technologies by supporting blockchain owners and facilitating the
implementation of digital application scenarios. We are empowering small and
medium-sized enterprises and traditional industries to harness the power of
digital technology for iterative upgrades. This drive extends to promoting
innovative enterprise service approaches, novel business models, and
transformative industrial formats, all geared towards accelerating the digital
transformation of our industries. In terms of sustainability, we will leverage
platforms like the Shanghai Environment and Energy Exchange and the Green
Technology Bank, as we are fully committed to executing the objective for the
launch of the China Carbon Exchange. We will foster the development of
specialized services including carbon auditing, carbon testing, carbon
assessment, and carbon finance so as to steer our industries towards
sustainable and eco-friendly growth. In terms of specialization, we are
expediting the realization of projects such as the North Sci-tech Biotechnology
Park and leveraging the expertise of benchmark companies like Bluepha. These
endeavors will serve as cornerstones for the development of new tracks covering
big data, healthcare, new materials, and new energy.

Thirdly, we will chart a forward-looking path
that propels us towards a heightened level of scientific and technological
innovation. Our primary objective is to cultivate a thriving ecosystem for
scientific and technological innovation, fostering the transfer and
transformation of scientific achievements, nurturing scientific and
technological service industries, and promoting the clustering of innovation
hubs. This strategy is pivotal in bolstering the strategic underpinnings of
scientific and technological innovation in our quest for high-quality
development. We are committed to accelerating the conversion of innovation
breakthroughs into tangible solutions. By harnessing the expertise of research
institutions such as the Shanghai Institute of Technical Physics (SITP) of the
Chinese Academy of Sciences, and the Shanghai Institute of Materials, we are
actively collaborating to establish scientific and technological innovation
incubators, innovation consortiums, and novel R&D entities. These initiatives
are geared towards expediting the synergy of “industry-university-institute-government-user”
collaboration, driving innovation to market more swiftly. In response to the
dynamic needs of science and technology innovation and entrepreneurship, we are
fostering the growth of the science and technology service industry. Our focus targets
specialized domains such as R&D and design, technology transfer,
entrepreneurship incubation, intellectual property management, testing and
certification, science and technology finance, and technology consulting. We
are actively enticing and nurturing highly competitive technology-centric
enterprises and institutions to serve as integral contributors to this
burgeoning sector. To stimulate the vibrant integration of the innovation chain
with the industrial chain, capital chain, and talent chain, we are propelling
the clustering of science and technology innovation headquarters. Functional
platforms such as science and technology innovation industry funds and
enterprise integration innovation centers are being created to provide the
necessary infrastructure. Our goal is to attract little tech giants,
specialized and sophisticated technology ventures, listed companies and unicorn
companies, fostering their growth within our ecosystem.

Fourthly, we will adopt a market-oriented
approach to unlock the full potential of reform and innovation. We remain
steadfast in our commitment to addressing real-world demands and tackling pressing
challenges, dismantling institutional barriers and constraints that stifle
development. Our goal is to infuse fresh vigor into our pursuit of high-quality
development. We place a strong emphasis on risk-sharing and are actively
studying and implementing government-guided models that combine government
funding with social investment, investment with loans, and bidding with
investment. These models are designed to attract diverse sources of social
capital into the venture capital arena, particularly encouraging early
investments in pioneering small and high-tech ventures. Our focus extends to
fostering large-scale production of innovative products. We explore concepts
like “R&D in high-rise buildings” and “composite functions,” while
optimizing the supply of workspace, facilitating the integration of R&D
with manufacturing. This synergy ensures that innovative outcomes find their
way into enterprises, industries, and markets more efficiently. We are deeply
committed to the growth of small and medium-sized enterprises. To alleviate the
challenges of financing and related high costs faced by these enterprises, we
are establishing a compensation funding pool, which integrates fiscal and
financial resources, for loans to smaller enterprises. This initiative is
designed to provide SMEs with the financial support they need to thrive.
Furthermore, we continue to work tirelessly to enhance the business
environment, with the ultimate aim of fostering a conducive ecosystem for the
high-quality development of all market entities.