Fei Xiaomei, deputy director of Hongqiao CBD Management Committee, hosts a meeting on July 20. She discusses the business development of the CBD in the first half of 2016 and underlines the work to be done in the second half of the year. [Photo/shhqcbd.gov.cn]

The Management Committee of Shanghai Hongqiao Central Business District (Hongqiao CBD) hosted a meeting on July 20, to review the regional business events that took place in the first half of 2016.

Fei Xiaomei, deputy director of the management committee, hosted the meeting where she spoke about the business development of Hongqiao CBD in the first half of 2016 and underlined the work to be done in the second half of the year. Representatives from 25 property developers including China SCE Property Holdings, Macrolink Group and Vanke attended the meeting and exchanged their opinions on the future of the property industry.

According to Hongqiao CBD Management Committee, the district maintained fast and steady growth in past six months attracting 197 corporations to the area. Foreign registered capital reached 597.1 million yuan ($90 million) while that for domestic came 3.85 billion yuan. Corporate tax revenue amounted 1.78 billion yuan, increasing by 47.9 percent from the same period last year. District corporate tax revenue grew at a rate of 46.8 percent, hitting 850 million yuan.

With the settlement of an increasing number of industry leaders, Hongqiao CBD is on its way growing into a modern service industry cluster platform covering areas of Internet, financing, medical treatment, the automotive industry, innovation and entrepreneurship.

Fei expressed her gratitude to the assembled property developers for their support and gave credit to the achievements accomplished in investment attraction. She emphasized the need to conform to the trilogy strategy of integrated traffic, exhibition and business on the basis of the 13th Five Year Plan (2016-2020), and expected joint efforts in platform construction, policy implementation and service quality enhancement.