Global executives explore North Bund on Huangpu River cruise
Global executives from multinational corporations pose against the backdrop of the North Bund on Monday.
Over 40 global executives from multinational corporations visited the North Bund waterfront in Hongkou District and the Huangpu River on Monday night on the sidelines of the ongoing China International Import Expo (CIIE).
As part of the CIIE series events, the executives boarded a cruise ship to enjoy the night view on both sides of the river.
Lu Ming, the director of Hongkou, introduced the North Bund and invited more overseas investors to develop on the waterfront region.
He emphasized the significant role of multinational corporations in global economic integration, as they bridge domestic and international economic cycles
"The multinational corporations have played a vital role for Hongkou to strength its global resources allocation and become an international open hub," Lu told the executives.
The riverside region has attracted nearly 2,000 foreign-funded enterprises from 70 countries and regions of the world.
Lu said construction is in full swing on the North Bund waterfront. Iconic projects, such as the 480-meter North Bund Center, are set to be the tallest structures in Puxi.
Thanks to the rapid development of the North Bund, Hongkou has attracted 106 key projects this year, with cumulative investment topping 60 billion yuan (US$8.24 billion).
Foreign executives converse during a Huangpu River cruise ship.
From January to August, the registered capital of newly established enterprises in Hongkou reached 23.6 billion yuan, ranking first among downtown city districts.
The actual foreign investment of the district from January to July was US$262 million, up 22.9 percent yearly. An additional 15 company headquarters have been set up in Hongkou since January.
Key institutions such as the International Chamber of Shipping's Shanghai representative office and the Shanghai Asset Management Association have settled in Hongkou, along with leading international financial giants, such as the Asia Pulp & Paper, Kraft Heinz, and CapitaLan, according to the district government.
"Shanghai remains one of the preferred locations for multinational corporations to strategically position themselves in the global industrial chain," said Zhu Yi, deputy director of the Shanghai Commerce Commission.
She announced that Shanghai has received over US$20 billion in actual foreign investment for three consecutive years, with US$18.7 billion in foreign investment received in the first three quarters of this year, marking a 0.5 percent year-on-year increase.
Shanghai has attracted 49 new regional headquarters of multinational companies and 20 foreign-funded research and development centers, bringing the cumulative totals to 940 and 551, respectively.
These figures highlight the vibrancy of Shanghai's economy and the continued optimism of domestic and foreign companies regarding China and Shanghai, Zhu said.
Executives of multinational corporations listen to an introduction of the North Bund.
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