Shanghai’s Jing’an District is demonstrating the city’s desire to become a global hub. Jing’an, known for its international flair, concentrated finance and commerce and thriving service economy, is using China’s 14th Five-Year Plan (2021–2025) to demonstrate “Chinese-style modernization.” High-quality growth, deeper reform and openness, improved urban living and efficient governance have yielded results in the district.

Core competitiveness

Jing’an’s economy is hitting new highs. In 2024, GDP reached 336.99 billion yuan (US$47.31 billion), with GDP per capita at 360,000 yuan, 1.5 times 2020 levels. District-level budget revenue hit 30.22 billion yuan, ranking among Shanghai’s top neighborhoods. The district leads downtown in high-performing office towers, boasting 92 “100-million-yuan tax-contributing buildings,” including nine generating over 100 million yuan monthly.

Consumer vitality is surging. Since 2021, 991 debut stores have launched in Jing’an, making it a magnet for global and domestic brands. Its retail sales now surpass those of all other central districts, with several landmark projects evolving into national — and even international — lifestyle destinations.

Corporate headquarters are another engine: 85 new HQs have been added since 2021, bringing the total to 142 multinational and 26 private-sector headquarters, with annual tax revenue from the sector rising 11.1 percent.

High-quality development

Jing’an combines advancements in existing industries with significant expansion in developing sectors. Six important industries now account for more than 85 percent of the district’s economy.

The number of “global service providers” has more than doubled from 48 to 103, concentrating a third of Shanghai’s top-tier professional service firms. Human resources, consulting, advertising, legal and quality inspection services generate over 18 percent of citywide revenue, the highest share in Shanghai. The professional services industry’s tax contribution rose from 15.8 percent in 2020 to 22.1 percent last year.

Finance is also taking root, with Jing’an emerging as a hub for international wealth management. Guotai Haitong, a top 10 global securities firm, relocated its headquarters here, and all eight of the top 10 private equity firms operating in China have offices in Jing’an. The district has also been approved as one of Shanghai’s first equity investment and M&A clusters.

Trade and commerce remain a pillar, making up a third of the economy. Total goods sales have exceeded 1 trillion yuan annually since 2021, with commerce-related companies contributing over 60 percent of tax revenue among the top 200. Offshore outsourcing has grown from US$560 million at the end of the 13th Five-Year Plan to US$1.47 billion.

Emerging industries are clustering fast. Jing’an is accelerating growth in data intelligence, cultural and creative sectors and life sciences, and is home to a third of Shanghai’s core big data firms and a third of the world’s top 50 pharmaceutical companies. Platforms such as “Blockchain Valley,” “Audiovisual Jing’an” and “Beauty & Innovation Jing’an” target niches like blockchain, ultra-HD audiovisuals, and beauty and health, creating an ecosystem of integrated innovation.

Unlocking greater vitality

At the forefront of China’s reform and opening-up, Jing’an has steadily expanded domestic and international engagement.

Between 2021 and 2024, the district attracted 1,122 foreign-invested projects, 220 more than during the 13th Five-Year Plan, with contracted foreign capital totaling US$4.83 billion.

Jing’an also created the city’s first premium product import demonstration zone, established China’s first bonded warehouse in a commercial center at Zhangyuan, and launched innovative free-trade accounts. Annual foreign trade volumes have risen 1.5 times compared with the previous Five-Year Plan.

The district’s high-end professional services and finance firms support outbound investment, with more than 600 Yangtze River Delta enterprises receiving cross-border guidance in 2025 alone.

Jing’an has rolled out 693 measures to optimize business conditions. From 2021 to June 2025, 47,600 new market entities were registered, 1.8 times the number during the previous plan. Private enterprises now account for nearly 85 percent of total firms, contributing a quarter of the revenue among the district’s top 200 companies.

Enhancing urban quality

Urban renewal has modernized layouts, upgraded buildings and improved city functions.

Since 2021, 47 secondary and lower-level old neighborhoods have been renovated ahead of schedule. Twelve projects have upgraded homes for 4,849 families.

At Pengpu Xincun, 4,907 old units have been fully modernized. Elevators were added to 1,495 multi-story buildings, and nearly 15,000 rental units have been delivered.

Thirty-five commercial and office towers, including the former JC Mandarin Hotel and Four Seasons Hotel, have been upgraded, while 23 more projects like Plaza 66 and Westgate Mall are underway, enhancing vitality and economic capacity.

Zhangyuan, Shanghai’s largest and best-preserved shikumen (stone gate) complex, has undergone protective development. The first phase created high-quality public spaces and a new urban landmark, with the east phase set to open next year.

People-centered city

Jing’an prioritizes residents, directing resources to improve life quality and cultivate culture.

Community-based eldercare has expanded with a full-lifecycle care model, while early childhood education now includes daycare for infants under two, highlighted by China’s first “Baby House.”

Jing’an has restored 106 revolutionary heritage sites and maintains some of the highest per capita public cultural facilities in Shanghai. The district hosts over 10,000 international performances annually, with 5,000 in-residence shows.

City management is precise, with Suzhou Creek’s 6.3-kilometer waterfront now open to the public. Jing’an added 26.5 hectares of green space, 127,000 square meters of vertical greenery and 12.7 kilometers of greenways.

Twenty-four new parks and pocket parks bring the total to 44, ensuring residents can “see greenery from their window, enjoy beauty around the corner and step directly into parks.”