(Yicai) Jan. 9 -- Shanghai aims to lift the operating revenue of the city’s leasing and business services sector to more than CNY1.5 trillion (USD208 billion) by 2028, up from CNY1.3 trillion last year, according to a local-government policy document released today.

The move is aimed at strengthening Shanghai’s modern services base through more focused industry clustering. Under the plan, seven districts -- Pudong, Jing’an, Xuhui, Huangpu, Qingpu, Changning, and Putuo -- will serve as key agglomeration zones, each developing clearly defined segmented industries to enhance specialization and competitiveness.

According to the document, Pudong will prioritize human resources services, consulting and research, international exhibitions and conventions, and legal services. Xuhui will focus on international digital advertising, management services, international exhibitions and conventions, and legal services, while Changning will specialize mainly in travel services. The remaining four districts will also cultivate their own targeted, segmented industries.

Ma Haiqian, vice president of the Shanghai Institute of Development and Reform, told Yicai that the policy calls for integrated support in areas such as talent and data, as well as upgrades to office buildings and industrial parks, to encourage enterprises in specific segmented industries to cluster not only within designated districts but also within the same buildings or parks. This approach is intended to drive a more systematic restructuring of the layout and development of segmented service industries.

Ma added that districts not designated as key agglomeration zones are not barred from developing industries such as advertising, exhibitions, legal services, or consulting. Rather, clarifying differentiated development priorities can help avoid homogeneous competition and resource misallocation, making it easier to strengthen distinctive segmented industries in specific areas.

By 2028, the combined revenue of leasing and business services in the seven agglomeration zones is expected to account for more than 70 percent of the city’s total, with Pudong, Jing’an, Xuhui, and Huangpu together contributing nearly 60 percent. During this process, Shanghai aims to develop a number of segmented industry parks, key commercial streets, and office buildings with vibrant resource flows and strong industry ecosystems.

Taking international digital advertising as an example, the document requires companies in this segment to concentrate in Xuhui, Huangpu, and Putuo. By 2028, enterprises in these three districts are expected to generate 50 percent of the city’s total revenue from this segment. Similar revenue share targets have also been set for other proposed key segmented industries.

The policy also states that by 2028. Shanghai will bring together a pool of business services professionals familiar with international rules, build professional service platforms that enhance efficiency, and create benchmark exhibitions, events, and forums to foster a supportive development environment for the leasing and business services sector.

Editors: Tang Shihua, Emmi Laine