The transportation hub also provides flight, bus and subway services. More than 310 million people passed through the hub in 2015.

"Hongqiao CBD is the best gathering place for businesses because it is a world-class transportation hub, exhibition hub and business hub. This is why we chose Shanghai to be the development base for Jungheinrich," said Alexander Oezbahadir, general manager of Jungheinrich China.

More than 30 other companies, including New York-listed Vipshop and German automotive company KSPG AG, will be following in Jungheinrich's footsteps to set up headquarters or regional offices in the zone.

Established in 2009, the Hongqiao CBD has been a choice destination for many businesses because of its prime geographical location, a well-established transportation network and affordable business costs.

In addition, Hongqiao CBD enjoys strong support from the central and local governments which have designated the area as a modern service integrated pilot zone. Between 2012 and 2015, the Shanghai government provided a total of 2 billion yuan ($300.38 million) in funding support to the zone.

In May 2016, the vitality of the business district was greatly enhanced after the launch of a business, tourism and culture demonstration zone, as well as a new travel route in the core area. The decision-makers of Hongqiao CBD said that this demonstration zone will help with the development of the creative industries as well as meet the cultural demands of white-collar workers and local residents in the zone.