Deloitte China released the “2023 Research Report on the Investment Environment of Chongming District, Shanghai” and honoured to be solicited as Chongming's investment promotion partner

On August 29th, the 2023 Chongming, Shanghai & Chengdu, Sichuan Economic Cooperation Promotion Conference hosted by the Shanghai Chongming Government was held in Chengdu. Leveraging the opportunities arising from the Shanghai-Chongqing-Chengdu High-speed Railway, this promotion conference serves as a bridge between Chongming, Shanghai and Chengdu, Sichuan, to increase resource sharing, mutual information and cultural exchange, strengthen economic cooperation across various fields and levels, and facilitate integrated industry development.

Among the attendees were Xu Huiquan, Deputy District Mayor of Chongming, with representatives from Deloitte China, Changxing Enterprise Group, Dongtan Construction Group, Agricultural Bank of China Shanghai Branch, Haitong Securities, and Shanghai Chamber of Commerce in Sichuan.

Deloitte China was honored to be invited as an “Investment Promotion Partner of Chongming District”, and commissioned to pen the “2023 Research Report on the Investment Environment of Chongming District, Shanghai”. At the conference, Nicole Wang, Senior Manager of Deloitte China, unveiled the Report to global investors and shared the research insights. The Report aims to provide an objective overview of Chongming’s economic environment and boost investor confidence and in-depth cooperation in Chongming, to share new opportunities and seek new development.

At the 2023 Chongming, Shanghai-Chengdu, Sichuan Economic Cooperation Promotion Conference, Deloitte China Senior Manager Nicole Wang (first from left) received the certificate of “Investment Promotion Partner of Chongming District” on behalf of Deloitte China.
Image source: Chongming, Shanghai

Introduction and Interpretation of the Research Report

Shanghai Deloitte Tax Ltd. has been entrusted by the Investment Promotion Office of Chongming District to conduct the research. From an independent, 3rd party perspective, Deloitte has depicted a competent investment environment of Chongming District based on large-scale questionnaires and on-site research/interviews along five dimensions – government policies and services, innovative ecosystem, infrastructure and business ecology, human resources, and living environment, Deloitte's seasoned experience in regional research, as well as corporate investors' real-life considerations gleaned from our extensive client service experience.

The Research Report is composed of three sections: 1) An overview of Chongming and the features of a world-class eco-island in the made; 2) Chongming’s “2+3+N” modern ecological industrial system; and 3) Chongming’s overall investment environment based on the survey results. Here, we will emphasize report highlights to help better understand the key advantages of investing in Chongming.
 

Highlight 1: Unique Ecological and Economic Achievements

Chongming is currently experiencing unprecedented historical opportunities for building a world-class eco-island. Its investment environment, characterized as “beautiful ecology, green development, a happy and livable environment, and openness and innovation”, demonstrates great potential for sustainable development and gradually becomes a strong magnet to attract investment in Shanghai and the broader Yangtze River Delta region.

With the opening of the Shanghai Metro Chongming Line and Shanghai-Chongqing-Chengdu High-speed Railway, Chongming extends its transportation network and enhances its geographical advantage within the Yangtze River Delta region.
 

Highlight 2: A Highly Dynamic Ecological Industry System

Chongming District, under the guidance of Shanghai’s “2+3+6+4+5” modern industrial system, prioritizes key industries and strives to build a “2+3+N” modern ecological industry system to comprehensively enhance its industry development capabilities and competitiveness, which leads to an innovative journey of attracting new economic opportunities with a superior ecosystem.

Chongming’s dedication to building an eco-island that prioritizes ecological conservation and boosts green development facilitates its specific industrial development. The district’s abundant ecological resources have become the most crucial development strength for its “2+3+N” ecological industries. Its high-quality agricultural soil and water resources provide a solid foundation for modern urban green agriculture, while its coastal port resources offer an agglomerative advantage for the marine equipment industry. The clean and green ecological environment underpins the development of high-quality tourism, distinctive sports, and health service industry. Moreover, emerging industries represent an innovative opportunity for Chongming District to capitalize on its ecological resource advantages and enhance its development capabilities.
 

Highlight 3: An Investment and Entrepreneurship Eco-Island Highly Recognized by Enterprises

According to questionnaire results from corporate entities and key source enterprises of tax revenue located in industrial parks, villages and towns of the district, Chongming excels in five dimensions: government policies and services, innovative ecosystem, infrastructure and business ecology, human resources, and living environment. It boasts outstanding investment advantages in the following areas:

• Government policies and services: The Chongming District Government implements targeted policies and provides efficient services based on market trends and the actual needs of enterprises.
• Innovative ecosystem: Leveraging Shanghai’s cutting-edge and diversified innovation resources, the Chongming District Government combines various scientific research and innovation resources to facilitate corporate innovations.
• Infrastructure and business ecology: By capitalizing on Shanghai’s global market influence, enterprises investing in Chongming gain access to the broader market and more business opportunities.
• Human resources: Chongming has abundant foundational talent resources and competitive labor costs compared to other Shanghai districts. Meanwhile, Shanghai’s rich pool of high-tech industry talent resources can fully meet the high-end talent needs of enterprises in the district.
• Living environment: Chongming’s world-class ecological resources create an unparalleled living environment that draws in high-caliber innovative R&D talent and unleashes the innovative vitality of emerging industries.
   

Deloitte Insights

Currently, Chongming is actively pursuing significant strategic opportunities such as the integrated development of the Yangtze River Delta region, rural revitalization, a strong maritime country, green development of the Yangtze River Economic Belt, and the “dual carbon” initiative. Meanwhile, the district is embracing major historical opportunities from constructing a rail transit line in its eastern part and the Shanghai-Chongqing-Chengdu High-speed Railway in the west. By focusing on key industries, establishing the “2+3+N” modern ecological industry system and comprehensively improving its industry development capabilities and competitiveness, Chongming is embarking on an innovative path to attract new economic opportunities with a superior ecosystem.

Nicole Wang, Senior Manager of Deloitte China, commented that “As Shanghai’s ‘backyard,’ Chongming District on one hand has ease of access to tap into the innovation, R&D, talent and various other advantages boasted by a world-class metropolitan like Shanghai. On the other hand its rooting in a green, beautiful, and liveable ecological environment has blessed the place to be an investment destination with profound prospects for imagination and growth.”

Looking ahead, Deloitte China is committed to contribute to the development and economic prosperity of Chongming District as well as other parts across China with its utmost sincere and integrated experience, expertise and resources.