[Photo provided to chinadaily.com.cn]
Founded in February 2024, the Shanghai Eastern Hub International Business Cooperation Zone (IBCZ) will start operation in Pudong New Area this year, aiming to become a pacesetter for China’s high-level opening-up.
The zone will serve as a platform linking global resources and fostering win-win collaboration, injecting “Chinese momentum” into global economic growth, local officials said.
Covering an area of 880,000 square meters, IBCZ is bordered by Shanghai Pudong International Airport to the east and Shanghai East Railway Station to the south.
According to official data, the airport’s annual passenger throughput exceeds 70 million, with international passengers accounting for half. As its Terminal 3 opens in 2028, the airport is expected to handle 130 million passengers every year.
The Shanghai East Railway Station, now under construction, is designed to handle 60 million passengers annually.
In the future, international passengers can take shuttle buses from Terminal 3 and reach the zone in just 10 minutes.
IBCZ also builds upon the management systems of comprehensive bonded zones, customs supervision areas and port restricted zones. Meanwhile, it implements a series of favorable policies and innovative supervision models, offering an efficient channel for cross-border business activities.
International travelers to the airport can enter the zone without a visa. Instead, they can stay for 30 days with a valid invitation recorded by the zone’s administrative organization and apply for extensions if needed.
More functions
Currently, Shanghai is home to 75,000 foreign-funded companies, 1,027 regional headquarters of multinational corporations, and 597 foreign-invested R&D centers.
Meanwhile, the Yangtze River Delta region is one of China’s most open and dynamic areas in terms of economy.
As a new carrier of service resource elements, IBCZ plans to create a global service ecosystem, with focuses on international business exchange, international exhibitions and international training.
It will build a variety of venues and facilities for exhibitions, conferences, and training, which can not only cater to large-scale events but provide specialized, small-scale, custom-made solutions.
There are also offices and different working spaces to meet the needs of professional services such as accounting, finance, consulting and testing.
Additionally, the zone will be equipped with a range of state-of-the-art amenities involving commerce, dining, leisure, culture, and sports.
New infrastructure
IBCZ’s transportation network has a special design featuring “passenger-freight separation and internal-external connectivity”, which ensures fast access to the airport and the railway station.
The zone adopts a sustainable design with ultra-low-energy buildings and a non-motorized transportation (NMT) system, while achieving smart operation across the zone through digital management platforms and smart terminal applications.
Driven by smart technologies and green solutions, the zone will provide enterprises with better services and experiences, showing the world China’s innovative approach to sustainable development, local officials said.
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