Putuo leads in financial growth, embarks on 25 new projects

Ti Gong

Over 20 enterprises in emerging fields, such as life health, digital marketing, and artificial intelligence, signed contracts to establish a presence in Shanghai's Putuo District on Thursday.

Putuo hosted the first major project signing ceremony of 2024 on the day, attracting 25 key projects across the vital sectors.

The district, which has been leading Shanghai in financial growth, reported 15.4 billion yuan (US$2.16 billion) revenue in 2023, marking an 11.8 percent year-on-year increase and Putuo's third consecutive year of double-digit growth.

One hundred and forty-three key investment projects were launched in Putuo in 2023, including 13 billion-yuan-level and 130 million-yuan-level projects.

The district has been nurturing four key industries: tech finance, intelligent software, life health, and research and development services, which now account for over 40 percent of the district's tax revenue, the Putuo government said.

A number of influential companies in those sectors have established their presence in the area. Among them, 20 outstanding companies were given awards at the signing ceremony.

Putuo's Party secretary, Jiang Dongdong, unveiled the district's ongoing investment promotion strategy, focusing on attracting major investors and strengthening the industrial chain.

Putuo aims to become Shanghai's scientific innovation hub with four major parks – the China Israel Innovation Hub; the International Innovation Center of Tsinghua University Shanghai; the Wuning Innovation Community; and Haina Town, a pilot zone for Shanghai's digital transformation campaign.

Additionally, Putuo is dedicated to improving public spaces along the Suzhou Creek and providing comprehensive services to businesses. It aims to create a hospitable, efficient and problem-solving environment for enterprise growth, Jiang said.