The Xuhui Innovation Zone of the China (Shanghai) Pilot Free Trade Zone was launched on Tuesday to drive economic growth in the district by fostering innovation and digital industries.
Shanghai launched the initiative to expand the FTZ through the establishment of “linked innovation zones” across the city.
The zones are specialized areas that focus on different sectors of the economy, aiming to replicate the successes of the FTZ while fostering new opportunities.
The Xuhui innovation zone covers around 45 square kilometers, encompassing major areas including Xujiahui, the West Bund, and the Caohejing High-Tech Park.
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