The North Bund Promotion Conference and Roundtable of Foreign-funded Commerce and Trade Enterprises is held July 28. [Photo/sww.sh.gov.cn]

The Shanghai Commission of Commerce and Shanghai Hongkou district government jointly held the North Bund Promotion Conference and Roundtable of Foreign-funded Commerce and Trade Enterprises on July 28.

At the conference, Hongkou district introduced a new round of plans for the North Bund area, and the commission of commerce detailed plans for the development of the city's commercial sector.

About 130 people attended the conference, including representatives from famous commercial brands such as L'Oreal, Louis Vuitton, Richemont, Estee Lauder, Dior, Ferragamo and Hugo Boss, as well as representatives from commercial estate development enterprises such as Sun Hung Kai, Swire, Shui On, Kerry, and CITIC Pacific.

At present, the North Bund is the only golden area in downtown Shanghai that can be fully planned and deeply developed, and it has huge development potential, said Xu Kunlin, vice-mayor of Shanghai.

Xu also said that the trade and commerce service industry is one of the key industries in the North Bund area, and also a starting point for Shanghai to accelerate the construction of an international consumer city.

Shanghai will do its utmost to improve the development level of trade and commerce in the North Bund, and make the area a new city-level benchmark business district, Xu added.