A panoramic view of Lujiazui Financial City. [Photo/VCG]

Lujiazui Financial City in Shanghai's Pudong New Area is rapidly cementing its status as a global investment hotspot, attracting a multitude of international enterprises.

French industrial software giant Dassault Systemes, establishing a presence in Lujiazui in 2005, has witnessed its business expand over 22-fold. Recently, it inaugurated its global fifth and China's first open innovation lab, the 3DEXPERIENCE Lab, in the area, which will focus on advanced manufacturing, new materials, and life sciences

This milestone exemplifies Lujiazui's allure. From January to July this year, the financial city saw 156 new foreign-invested contracts, with 88 new projects marking an 18.92 percent year-on-year increase. Contracted foreign investment reached $923 million, up 14.37 percent year-on-year, while actual foreign investment surged by 44.18 percent to $633 million.

Covering just 31.78 square kilometers, Lujiazui Financial City contributes nearly 14 percent of Shanghai's and 40 percent of Pudong's economic output.

Lujiazui's success stems from China's robust market, open innovation environment, and convenient and professional government services. National strategies like the development of Pudong into a pioneer of China's socialist modernization and the institutional openness of the China (Shanghai) Pilot Free Trade Zone have further opened up its modern service sector, achieving several "national firsts".

Looking ahead, Lujiazui aims to attract more global financial institutions, particularly in non-banking finance, securities, and insurance, while clustering high-profile international financial organizations.