New park set up as source of online new economy

Changning officially launched the “Source of Hongqiao” online new economic ecological park at the 2022 Shanghai Global Investment Promotion Conference held on June 16.

As one of the three municipal online new economy ecological parks, the “Source of Hongqiao” online new economy ecological park is an important layout of Shanghai’s online new economy in the west of the city.

The park will strive to build itself into a leading online new economy innovation high ground and digital economy headquarters cluster in China, and a model for high-quality economic development and digital transformation in the country, according to the blueprint.

As early as 2000, Changning District took the lead in putting forward the “Digital Changning” strategy and continuously promoted the upgrading, so as to accelerate the deep integration of information technology and regional economic and social development, and lead the high-quality economic and social development.

In recent years, leading enterprises such as Ctrip and PDD have grown increasingly in Changning. There are 21 e-commerce platforms with a transaction volume of more than 100 million yuan (US$14.97 million) annually in the district.

The total transaction volume of e-commerce platforms in Changning ranks first among all the districts throughout the city, accounting for about a quarter of the city’s total. At the same time, key enterprises such as Ctrip group, PDD, iQiyi, established their headquarters here one after another.

In order to further implement the national strategy for the construction of Hongqiao International Opening-up Hub and the deployment of the city’s online new economic development action plan, continuously expand the core brand influence such as the “Source of Hongqiao” and “Digital Changning,” and form a complementary situation in which “Big Hongqiao” and “digital economy” opportunities mutually empower each together, Changning builds the online new economic ecological park this time that is internationally oriented, innovative and open, and with the agglomeration of all sorts of elements.

It is planned that by 2025, the “Source of Hongqiao” online new economy ecological park will be built into a leading area in the Hongqiao International Central Business District and even the city’s map of online new economy, giving full play to Changning’s advantages, showing Changning’s capability in the process of Shanghai’s urban digital transformation.

Changning is rich in online new economic platforms and resources. Relying on Zhongshan Park commercial circle, Hongqiao international trade center and Hongqiao Linkong Economic Demonstration Zone, the district promotes the brand construction of Hongqiao Smart Valley. 

The Zhongshan Park Digital Financial City, Hongqiao International Fashion Circle and Linkong High Ground of Multinational Headquarters are being built together with 15 industrial parks in the east, center and west of the district.

Changning District unveiled its first online new economy industrial park in September 2020 to serve the city’s booming Internet sector.

The High Street Loft-Creater park on Changning Road is meant to attract livestream and e-commerce companies as well as other online economy startups.

Online economy companies such as Meituan, PDD, Ctrip and Freshippo also jointly established the Shanghai Live Streaming Ecommerce Alliance in October 2020.

The alliance and a new media talent training center were launched in the park as well to provide professional training sessions and internship opportunities to livestream hosts.

During the COVID-19 pandemic, digital services became a lifeline for the millions of people subjected to lockdowns and shelter-in-place orders.

Many Internet companies shifted their business models amid the pandemic and now focus on livestreaming sales and e-commerce.