Shanghai recently held a seminar on the development of its "Five Centers" initiative, focusing on strengthening its role as an international hub for the economy, finance, trade, shipping, and science and technology innovation.

During the event, 15 exemplary cases were unveiled, highlighting the city's progress and innovative practices. Among them, the Lin-gang Special Area stands out for its prominent role in these efforts.

International Economic Center

A major development is the expansion of value-added telecom services pilot. Shanghai has begun trials to permit foreign enterprises to operate these services independently in the Lin-gang Special Area and Pudong New Area. This move has attracted nine foreign companies, covering areas like digital healthcare and fintech, thereby enhancing Shanghai's digital economy.

International Financial Center

Shanghai has launched an international reinsurance exchange in Lin-gang, spearheading the industry's digital and standardized transformation. The center, now with 131 registered institutions, has experienced substantial growth, with premiums totaling 5.3 billion yuan ($752 million) in the first 10 months of 2025.

In the Lin-gang Special Area, a pilot for offshore trade financial services has been launched, addressing long-standing challenges in settlement and enhancing the business environment for offshore trade.

Shanghai International Reinsurance Exchange in Lin-gang. [Photo/lingang.gov.cn]

International Trade Center

Shanghai is developing an international data center in the Lin-gang Special Area to promote data openness and digital trade innovation. Through establishing an international data economic industrial park and opening cross-border data connections to places such as Hong Kong, Singapore, Tokyo, and others, Lin-gang has significantly accelerated growth in areas like data processing for incoming data, digital culture export, and digital service capability export.

International Shipping Center

Shanghai has established itself as a global leader in low-carbon maritime fuel, providing LNG and green methanol bunkering services. This effort advances the global maritime industry's green transition and strengthens Shanghai's brand as a low-carbon port.

The city has also introduced a "one-box" water-to-water transfer model to improve logistics efficiency and boost competitiveness in the Yangtze River Delta.

Led by the Shanghai Institute of Marine Insurance, the Green Shipping Insurance Community has been formed in Shanghai as a collaborative platform to support the shipping industry's green transition. It is formed through partnerships with insurance companies and intermediaries and focuses on providing risk coverage throughout the entire lifecycle of green ships, such as those powered by batteries, LNG, methanol, and ships equipped with wind turbine installations.