New Shanghai Pudong cluster unveiled to draw international economic entities

The New Bund Global Economic Organization Cluster was unveiled in Shanghai's Pudong New Area on Wednesday, as part of its efforts to attract more international economic entities to drive high-quality growth.

Aerial photo taken on May 22, 2020 shows a view of Pudong New Area, east China's Shanghai. (Xinhua/Fang Zhe)

China issued a guideline on July 15 to support high-level reform and opening-up of Pudong. The guideline listed measures to build Pudong into a pioneer area for socialist modernization.

The guideline also pointed out that Pudong should play a role in drawing more international economic organizations and multinational companies' regional headquarters to the China (Shanghai) Pilot Free Trade Zone.

Currently, a total of 10 international economic organizations have set up offices in the New Bund of Pudong (Qiantan Area).

Yang Chao, deputy head of the Pudong New Area, said that the New Bund Global Economic Organization Cluster will gather more corporate headquarters, international organizations and institutions with global influence, helping Pudong become the prime option for many international organizations and improving Shanghai's global competitiveness.