HR services boom in Shanghai's Hongqiao

The launch ceremony of the first Hongrenhui Hongqiao International Human Resources Service Industry Expo and an event marking the first anniversary of the opening of the Hongqiao Branch of the China Shanghai Human Resources (HR) Service Industry Park (Hongqiao Park) were held in Shanghai Hongqiao International Central Business District on March 27.

To date, Hongqiao Park has achieved a cumulative revenue of about 5 billion yuan ($727 million), up 502 percent since it opened its doors last year. In September 2021, the park was rated as a national industrial park for human resources services and approved by the Ministry of Human Resources and Social Security.

During the event, human resources enterprises in the park launched 56 services in six categories to promote industrial development. The Hongqiao International Talent Reception Hall also released various policy packages to optimize one-stop services and build the park into a highland for innovating and developing the human resources industry.

Covering a total construction area of 270,000 square meters, the park has three functional areas featuring enterprise services, innovation and development and industrial agglomeration.

Since it opened on Feb 25 last year, the park has introduced a total of 129 human resources companies including Manpower Group, CDP Group's global headquarters and Shanghai Foreign Service Holding Group.

The cumulative registered capital of the park amounts to 1.05 billion yuan, a year-on-year increase of 423 percent. The park has served more than 10,000 human resources enterprises, provided around 1 million people with various services and formed an industrial chain integrating recruitment, training, talent assessment, human resources outsourcing and information technology and software services.

The Minhang branch of the Shanghai HR Alliance was launched during the event to build a high-quality and efficient service platform for talents and enterprises, and eight human resources agencies signed contracts to settle in the park.

The first Hongrenhui Hongqiao International Human Resources Service Industry Expo included a main forum and activities such as exhibitions and roadshows.