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Lujiazui to leap towards world-class financial city
By:Wu Qiong   |  From:english.eastday.com  |  2021-08-13 17:22

As the curtain was unveiled on Pudong New Area’s development into a “pioneer area for socialist modernization”, Lujiazui, Shanghai’s financial center, released its five-year plan on August 12.

There will be more than 10,000 financial entities in Lujiazui by the end of 2025, among which at least 1,000 will be licensed institutions, according to the plan.

Lujiazui also aspires to become a hub for the world’s top asset management companies, a highland of regional headquarters of multinational companies from various industries and a demonstration zone of a world-class business climate.

A national financial leasing center accommodating companies’ headquarters and talent supply will be another highlight of Lujiazui. Apart from that, more application scenarios and more innovation will be developed to boost fintech development.

In the following years, a leadership plan for global professional service providers and measures to boost the professional service industry will be launched, said Liang Qing, deputy director of the Lujiazui Administration Bureau of the Shanghai Pilot Free Trade Zone, with an aim to promote a higher level of institutional opening-up and create a highland of professional service institutions. By 2025, there will be more than 3,500 professional service institutions, the plan stated.

On top of that, Lujiazui has also planned a new layout for its livable and workable environment. Apart from expanded office buildings and working spaces, it will be built into the city’s No.1 business district and a top notch international consumption center. Top priority will be given to construction in “small Lujiazui”, the central business area, to develop its “first store” economy and create more quality and up-to-date consumption experiences. By 2025, it will become a concentration area featuring international fashion elements with Shanghai characteristics.