Shanghai Financial Valley, an industrial park specializing in financial industry and outsourcing services, officially opened in Jiading district on April 17.
With a total investment of 6 billion yuan ($980 million), the valley in Jiading Industrial Zone covers an area of 66.7 hectares with a gross floor area of 1 million square meters.
Xu Haoming, president of the financial valley, said that the industrial park will gather headquarters of financial and outsourcing service enterprises. It will serve as a financial transaction and settlement center and provide services and support for financial institutions.
The financial valley is expected to give a full play to the Shanghai's advantages in financial talents, industry agglomeration and technological innovation. It will serve as a hub for the city's international financial center and the Shanghai (Pilot) Free Trade Zone.
The first phase of the project completed in October, 2014, with an area of 68,000 square meters, including 30 free-standing offices. Many enterprises have set their offices and operation centers in the park.