The Waigaoqiao Free Bonded Area in the China Shanghai Pilot Free Trade Zone [Photo/china-ftz.com]

The Waigaoqiao Free Trade Zone of the China Shanghai Pilot Free Trade Zone received additional investment from Shanghai Hode Technology Co Ltd on Jan 2, which is expected to help the free trade zone attract more businesses and investment.

Shanghai Hode Technology Co Ltd is an arm of the popular Chinese video-sharing website Bilibili. The company, which focuses on advertising services and information technology, was founded in the Waigaoqiao Free Trade Zone in 2014.

Following several rounds of negotiation, Bilibili decided to increase the registered investment of Shanghai Hode Technology Co Ltd from $50 million to $200 million.

Bilibili's executives said they were impressed by Waigaoqiao's efficient and professional services, which have helped boost the development of local companies.

Moving forward, Waigaoqiao will continue working to improve its business climate in the hope of attracting more investment from companies.