Global powerhouses awarded for their role in Jing'an's success
Jing'an awards its major economic contributors.
L'Oréal, Louis Vuitton, and Hermès – major international brands with regional headquarters in Shanghai's Jing'an District – are among the top economic drivers in this vibrant business hub, it was announced this week.
The global powerhouses were recognized at the Jing'an Business Environment Service and High-Quality Development Award Ceremony, where over 230 firms were honored for their contributions to the district's economic growth.
Other notable awardees included global giants SAP, KPMG, Gucci, TUV Rheinland, and Pfizer, alongside prominent domestic players Guotai Junan Securities, Ping An Asset Management, and SAIC Finance, all of whom play key roles in shaping Jing'an's thriving economy.
President of the North Asia zone and Chief Executive of L'Oréal China Vincent Boinay receives the award.
In 2024, Jing'an posted a 5-percent year-on-year increase in general public budget revenue, reaching 30.22 billion yuan (US$4.14 billion). The district continued to lead Shanghai's central districts in both total revenue and retail sales, further solidifying its position as a top economic hub. It also outpaced the city in the number of new first-store openings.
Notably, foreign investment remains a cornerstone of Jing'an's economic success. In 2024, the district's foreign-related economy generated 40.22 billion yuan in tax revenue, accounting for nearly half its total tax income. The district also saw a 34-percent increase in new foreign-invested projects, with 260 new wholly foreign-owned ventures launched.
Jing'an is now home to 136 regional headquarters of multinational companies, reinforcing its status as a global business center.
Jing'an's top officials talk with executives from the district's major multinational firms.
Last month, top Jing'an officials, including Party Secretary Zhong Xiaoyong, Mayor Zhai Lei, and Deputy Mayor Mei Guangqing, met with executives from multinational firms including LVMH, Richemont, Philips, L'Occitane, and Sisley. The executives shared their future business strategies and reiterated their commitment to expanding operations in the district, further solidifying its appeal as a premier destination for investment and business growth.
