SHANGHAI - North Bund, a new cluster of foreign enterprises in Shanghai, has helped Hongkou district attract foreign investment worth $1.28 billion in 2019, according to Hongkou District Commission of Commerce.

Top-grade office buildings in North Bund, including Sinar Mas Center, Raffles City of CapitaLand and Shanghai Landmark Center, have met the high-quality working environment demands of foreign investors, attracting foreign companies to settle in the area.

At the same time, Hongkou district has further facilitated the business registration process by making all services accessible via one website and reducing 90 percent of the application materials.

Sixty percent of the world's top 500 enterprises in Hongkou district are now located in the North Bund area, according to the commission.