A high-speed train arrives at Shanghai Hongqiao Railway Station. GAO ERQIAO/CHINA DAILY

Policies tested

Many experts equate the Hongqiao International Hub with two other major national strategic zones involving Shanghai－the demonstration zone for integration of the Yangtze River Delta and the Lingang Special Area of the China (Shanghai) Pilot Free Trade Zone. They feel that Hongqiao acts as a bridge between the two.

Both zones－tasks set for Shanghai by President Xi Jinping－were established in 2019.

Gao Ping, deputy director of the Shanghai ZhongChuang Institute for Industry & Innovation, said, "The Lingang area is playing the trade liberalization card, the Yangtze River Delta is playing the regional cooperation card, and the Hongqiao area is focusing on connection."

He said the plan for the Hongqiao International Hub includes policies first tested in the Yangtze River Delta integration demonstration zone and the Lingang special area, such as allowing eligible companies in the Hongqiao Central Business District to open free trade accounts.

"I think the Hongqiao hub will employ more opening-up policies from Lingang and more policies from the Yangtze River Delta demonstration zone that break provincial barriers," Gao added.

Xu Jian, vice-dean of the China Institute for Urban Governance of Shanghai Jiao Tong University, said, "When people talk about opening-up, they usually think of Pudong New Area, because it has attracted a lot of foreign investment and talent, but this was more of a one-way flow.

"With its proximity to neighboring cities in the Yangtze River Delta, the Hongqiao International Hub will further promote Chinese companies going global. It will be a connector for domestic and international trade."

Zhang Wei, deputy head of the Chinese Academy of International Trade and Economic Cooperation, said the measures planned for the Hongqiao area are aimed at bridging the domestic and overseas markets, better facilitating China's industrial and consumption upgrading, producing an optimized road map for industry, and perfecting the country's opening-up.

"The Shanghai Free Trade Zone has opened the gate connecting China's rules and international rules. The Hongqiao area will nurture a regional coordination mechanism amid domestic circulation, and both are important contributions to China's economic growth," she said.