Jing’an sets out ambitious path for creatingworld-class CBDPosted by On

Jing’an District, at the heart of Shanghai, has proposed expanding its central business district in a deliberate drive toward creating a world-class CBD.

The expansion plan will include the burgeoning areas in Suhe Bay, Daning and Shibei, in addition to the current Nanjing Road W., which is quite similar to the planning of the world’s other renowned CBDs like the one in New York that consists of areas surrounding Times Square and Hudson Square.

“A world-class CBD plays an important role in helping Shanghai become a world-class city,” Wang Hua, director of Jing’an, said, noting that the new CBD area will provide nearly 4.7 million square meters of offices.

Jing’an fetched more than 84 billion yuan (US$11.76 billion) in tax revenue in 2021, a year-on-year increase of 22.7 percent.

Meanwhile, foreign businesses contributed nearly 55 percent of the district’s total tax revenue in 2021, ensuring its first-place standing among Shanghai’s downtown districts for five consecutive years. Across the district, there are 110 headquarters of multinational companies.

Notably, the district’s strong “building economy,” in which commercial complexes are a big part, helps attract businesses. Statistics show tax revenues from 80 buildings have each exceeded 100 million yuan.

Besides, Jing’an gathers 78 GaWC175-listed service providers.

GaWC, or the Globalization and World Cities Research Network, is a think tank that studies relationships between cities…

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