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Pudong emerges as global resource hub
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Pudong is reinforcing its role as a global hub for finance, trade and shipping. The new area has optimized resource allocation to strengthen support for the real economy while building an open system aligned with international standards.
Landmark financial openings include China’s first wholly foreign-owned securities firm, J.P. Morgan Securities (China); early Chinese-foreign wealth-management joint ventures such as BlackRock CCB Wealth Management; and the first wholly foreign-owned mutual fund firms, including Neuberger Berman, Fidelity, and Schroders. Over the past five years, Pudong has added 136 regional headquarters of multinational companies, bringing the total to 495.
The New Bund Global Economic Organization Cluster, launched in July 2021, has attracted 25 international economic organizations, including the New Development Bank, the International Chamber of Commerce, and the World Association of Nuclear Operators. Construction has begun on the Shanghai Eastern Hub International Business Cooperation Zone to deepen global business links.
Pudong is expanding its commodities trading role: The Shanghai Futures Exchange offers crude oil options, Europe-bound container freight index futures, and options for lead, nickel, tin and alumina. The Shanghai Gold Exchange opened its first offshore gold delivery vault in Hong Kong, enabling physical gold settlement in offshore yuan.
The new area has also built new trade and financial platforms, including a registry for bulk-commodity warehouse receipts and an international reinsurance trading center, while piloting imports of remanufactured products and bonded remanufacturing outside special customs zones. Offshore trade exceeded US$90 billion in 2024 under a preferential stamp-tax policy.
Pudong’s shipping and logistics capacity continues to expand. Its port handled 45.88 million TEUs in 2024, ranking first globally for the 15th consecutive year, while Pudong International Airport ranked second worldwide in cargo and mail throughput.
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