Market Report: Shanghai, China
By Zoe Wu on March 27, 2020
Jinqiao and Zhangjiang Industrial Park Area Hotel Market
Shanghai Jinqiao Export Processing Zone is located at Pudong New District, Shanghai. Jinqiao used to be a state-level economic and technological development zone established at the beginning of Pudong New District’s development in 1990, with a planned area of 27.38 square kilometers.
However, in December 2014, Jinqiao’s 20.48 square kilometers planned area was officially incorporated into the China (Shanghai) Pilot Free Trade Zone. Jinqiao is a traditional manufacturing industry base with many research and development headquarters of manufacturing enterprises.
There are four major industries in Jinqiao, namely automotive and parts industry, modern home appliance industry, biomedicine and food industry as well as electronic information industry. According to the latest plan, Jinqiao is transferring and upgrading from a “manufacturing” focused zone to an “intelligent manufacturing” focused zone.
Shanghai Zhangjiang High-Technology Park is also located at Pudong New District. It was established in 1992 as the core park of Zhangjiang National Independent Innovation Demonstration Zone with a goal of becoming a world-class high-technology park. The planned area of Zhangjiang is 79.7 square kilometers. In April 2015, Zhangjiang’s 37.2 square kilometers planned area was officially incorporated into the China (Shanghai) Pilot Free Trade Zone. Currently, Zhangjiang has two major industrial clusters: the “medical industry” cluster focusing on pharmaceutical related industries and the “Internet industry” cluster focusing on Internet and mobile Internet related industries.
After almost 30 years of development, especially after joining the Free Trade Zone, Jinqiao and Zhangjiang have developed into a world-renowned export processing zone and a high-technology park. Their infrastructure and industrial development have also become more mature. Considering Jinqiao and Zhangjiang are both important to the Pudong Free Trade Zone Areas, we have selected the following upper-midscale to upper-upscale hotels to review the historical market performance, identify the demand segmentation dynamics and draw an evaluation of the market.
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