The Shanghai Eastern Hub International Business Cooperation Zone has received official approval for its detailed development plan, as announced by the bonded area bureau of the China (Shanghai) Pilot Free Trade Zone Administration on Monday. This announcement marks a significant milestone in enhancing Shanghai's role as a global business center.

Covering a planned area of 0.88 square kilometers, the hub is designed to implement advanced facilitation policies for cross-border businesses. The plan emphasizes the utilization of an integrated transportation network, which will connect high-speed trains, airports, and metro lines, thereby enhancing accessibility and efficiency for both domestic and international enterprises.

As part of its infrastructure development, the plan includes the construction of two bridges and one tunnel intended to improve connectivity between the eastern and western parts of the zone. Additionally, smart buses will be introduced to accommodate commuters' varying schedules throughout the day, focusing on enhancing transportation options for all users.

The Eastern Hub is poised to become China’s first special function zone that concurrently facilitates the movement of people, luggage, and goods. This innovative approach aims to create a flexible ecosystem, leveraging module-based space design to adapt to the dynamic needs of cross-border operations.

A key feature of the zone will be designated areas for multinational companies to establish regional headquarters, fostering environments conducive for trade negotiations and cross-border mergers and acquisitions. This initiative is expected to attract global business leaders to the region.

In an effort to bridge the gap between academia and industry, the zone plans to establish cross-border training platforms focused on sectors such as biomedicine, digital trade, and artificial intelligence. Tailor-made courses will be designed to equip companies with knowledge regarding rules and cultural nuances related to international business.

Additionally, the hub will host exhibitions related to biomedicine and consumer electronics, featuring immersive and interactive scenarios designed to enhance visitor engagement. Upcoming exhibition venues will incorporate smart systems and expedited clearance services for cross-border exhibits, streamlining processes for international showcases.

The Eastern Hub is also set to attract a range of legal, finance, accounting, and consulting firms. These companies will provide essential services, including compliance guidance, cross-border settlement facilitation, and protection of intellectual property rights, particularly aimed at supporting outbound Chinese businesses.