Lujiazui seeks further growth of building economy

Lujiazui Financial City, Shanghai's financial hub, will continue to improve its building economy with the aim of having over 100 commercial buildings whose tax payments exceed 100 million yuan ($14.49 million) in 2019, local authorities announced at a 2018 commercial building award ceremony on May 10.

Also, the number of buildings whose tax payments exceed 1 billion yuan is expected to reach 24, and the number of headquarters of multinationals is expected to exceed 100.

Last year, 97 commercial buildings paid taxes of over 100 billion yuan, and Shanghai International Financial Center became the first one in Shanghai to pay taxes of about 5 billion yuan.

Among them, 80 buildings, including the Shanghai Tower, Jinmao Tower, World Financial Center, and Shanghai International Financial Center, received awards for their good environment, economic contributions, and comprehensive services.

Building economy has become a highlight of Lujiazui, where over 250 commercial buildings are located, offering 15 million-square-meters of office space. And each building is regarded as a vertical financial street.

The growth of the building economy was attributed to the clustering of headquarters of enterprises. Lujiazui got 21 new headquarters last year, including eight regional headquarters of multinationals.

To improve its building economy and achieve high-quality regional economic development, Lujiazui will grasp the opportunities brought by the further opening up of the service industry, identify the industrial features of different buildings, and provide various policies to support the building, according to Zhang Yuxiang, director of Lujiazui Management Bureau.

It will work on attracting enterprises in fields of human resources, cross-border e-commerce, non-professional education, and healthcare, and bringing in more foreign-invested asset management enterprises, as well as tech enterprises and related service agencies.

Jinmao Tower plans to offer 2,000 square meters work space to enterprises attending the China International Import Expo.

Lu Min, general manager of office building department of Jinmao Tower, said that the tower has an abundance of professional service institutions, which caters to multinationals that are newly arrived in Shanghai.

Jinmao Tower, as it eyes the promising prospects of the enterprises' business expansion in China, will also provide the newcomers with a package of services including office decoration and property service, said Lu.

Zhang added that based on features of the buildings, Lujiazui will explore some new business attraction models to help the area optimize its industrial structure, form industrial cluster, and helps increase the attractiveness of its commercial buildings to clients.

The Lujiazui Management Bureau also set up a work team of commercial buildings to integrate various building resources and promote the development of the building economy.