Developing Hongqiao CBD is a key strategy decision by the Shanghai government aimed at supporting the regional economy, urban layout adjustment, the construction of Shanghai international trading hub and to better serve the national Yangtze River Delta region development strategy.

Hongqiao CBD has been positioned as a modern service industry cluster, a new international trade platform, a base for headquarters, trading institutions and economic organizations, and a high-end business service platform.

The zone is playing a vital role in supporting the development of the Yangtze River Delta region after the central government's Yangtze River Delta city cluster development plan and Hongqiao CBD's 13th Five-Year Plan (2016-20) were released this year.

Hongqiao CBD has identified three key development areas during the 13th Five-Year Plan (2016-20) period, which include mass transportation, large-scale exhibitions and large companies.

Officials said the zone has entered into the key stages in its functional development.

So far, more than 800 global companies, including multinational oil and gas company Shell and compression technology firm Hoerbiger have settled in the district. Around 650,000 jobs will be created in the CBD by the end of 2020.