The 7th Hongqiao International Economic Forum is underway in Shanghai from Nov 5 to 10, alongside the 7th China International Import Expo. [Photo/CIIE Bureau]

Shanghai's Hongqiao international hub can expand its economic influence by cultivating new quality productive forces, say experts and business leaders.

Beyond its current roles in transportation, business, and innovation, the hub should take on strategic leadership in China's reform era, experts suggest.

"By consolidating and improving its strengths, Hongqiao hopes to further enhance its influence, attraction and impact by continuously strengthening its function as an international hub," said Jiang Xiaojuan, professor at the University of Chinese Academy of Social Sciences, during a sub-forum of the 7th Hongqiao International Economic Forum, held alongside the China International Import Expo.

"The Shanghai government has an important role in providing consistent signals through its regulatory and policy mechanisms, giving the private sector confidence to invest in decarbonization," said Will Symons, Deloitte Asia-pacific sustainability & climate leader.

"There are huge economic opportunities in China. So I would love to see the deepening connections between government policy, social policy, energy policy and investments from the private sector, so that China can keep winning and keep exporting decarbonization to the world," said Symons.

The sub-forum on building the Hongqiao international hub aimed to improve its capacity and advance economic innovation, according to its organizers, the Shanghai Municipal People's Government and the Ministry of Commerce.