Pudong New Area, the core area of Shanghai's development as "five centers" — namely, an international economic center, financial center, trade center, shipping center, and scientific and technological innovation center, has emerged as a vibrant hub of global economic activity and innovation during the 14th Five-Year Plan (2021-25).

At the heart of Pudong's financial prowess lies Lujiazui Financial City, a magnet for global financial institutions. With over 8,000 financial entities calling it home, including 80 percent of China's foreign asset management firms, 40 percent of foreign legal entity banks, nearly one-third of public fund management companies, and a quarter of insurance asset management institutions, Lujiazui has become a critical gathering place for global asset managers in China. The establishment of BNP Paribas Securities, a wholly-owned subsidiary of the eurozone's largest banking group, BNP Paribas, underscores Pudong's appeal as a premier destination for international financial players.

A panoramic view of Lujiazui Financial City. [Photo/WeChat ID: pdnews]

Pudong is also at the forefront of the Silk Road E-commerce initiative, with the Global Hub in the Waigaoqiao area serving as a gateway for cross-border procurement and domestic market access. Thirteen national pavilions and commodity centers from Silk Road E-commerce partner countries have already set up shop.

Pudong's influence extends beyond its borders. The listing of the Shanghai Natural Rubber Futures contract on the Osaka Exchange in Japan, linked to the Shanghai Futures Exchange's natural rubber futures price, marks a significant milestone in promoting the "China Price" globally. Pudong is committed to further expanding its international reach by strengthening cooperation with global institutions and fostering more internationally linked trading varieties.

Pudong boasts impressive credentials in international cargo shipping, with Pudong International Airport ranking second globally in cargo and mail throughput last year, and Shanghai Port maintaining its position as the world's busiest container port for 15 consecutive years. The region's trade volume at customs reached 10.64 trillion yuan ($149.23 billion), accounting for a quarter of the national total.

The modern economic system in Pudong is underpinned by its strong capacity for original sci-tech innovation. The region has witnessed a surge in innovative achievements, particularly in the three leading industries. In the biomedical sector alone, nearly 2,000 research pipelines are underway, including over 800 Class I new drugs. Since the 14th Five-Year Plan, 23 domestically produced Class I innovative drugs and 27 Class III innovative medical devices have been approved.

An innovation ecosystem, comprising major scientific facilities, national key laboratories, new R&D institutions, foreign-invested R&D centers, specialized and sophisticated enterprises, high-tech enterprises, and technology-based startups, is driving Pudong's innovation chain from conception to commercialization. The region has seen an 8.7 percent annual increase in R&D expenditure over the past five years, with fiscal investment in science and technology reaching 55.3 billion yuan.

Pudong's offshore trade volume surpassed $90 billion in 2024, up 75 percent. The region is also pioneering innovations in shipping, such as the pilot program for onboard pharmaceutical and medical device supplies, covering 724 types of drugs.

Pudong's rising global profile has attracted a steady stream of foreign investment. Infineon Technologies, a global semiconductor giant, recently broke ground on a 43,000-square-meter distribution center in the Pudong Airport Comprehensive Bonded Zone, which will serve as one of its three global logistics hubs. Meanwhile, Veolia Group, a Fortune 500 company specializing in ecological environment and resource management, has increased its registered capital in its Pudong-based Chinese headquarters to 2.8 billion yuan, marking its third capital expansion since 2025.

Pudong is standing as a shining example of China's opening-up and innovation-driven development. Its remarkable achievements in finance, trade, innovation, and foreign investment attraction position it as a pivotal player in the global economy, poised for even greater success in the years ahead.