Hongkou District Launches Shanghai Hedge Fund Zone

Shanghaia��s Hongkou district was home before the countrya��s Communist revolution to thousands of often stateless immigrants fleeing Hitler that lived in what was called the Jewish ghetto.A� A�Landmark pre-war buildings in the area such asA�Broadway Mansions and the Astor Hotel are still standing, open as tourist spots and represent fairly well-preserved throwbacks to another era of the storied citya��s history.

Since China launched its economic reforms in the 1980s, Hongkou has lacked the success of Shanghaia��s wealthier areas such the Lujiazui financial district located directly across from it on the other side of the Huangpu River that divides Shanghai into two halves. The Hongkou government on Friday took a step toward catching up with the opening of the Shanghai Hedge Fund Zone.A� Hongkou aims to piggyback on Shanghaia��s existing appeal to foreign financial service companies through a new program that offers tax and other benefits to hedge fund management companies that wish to do business in the country. A�A�Hongkoua��s move also follows the establishment of the Shanghai Trade Free Zone in the city last month, another move by the Shanghai government to boost service industry growth.

Join the conversation. Share your comments or questions below.

Leave a reply.

You must be logged in to post a comment.