Author: Song Xi Source: Site Selection 960

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Another tech behemoth is constructing a colossal new campus.

Recently, market news has disclosed that the northern section of the NetEase Shanghai International Cultural and Creative Technology Park, with a total investment of 5 billion yuan, has been completed and handed over. Meanwhile, the southern section is in its final construction phase and is anticipated to be operational by the end of this year.

Once the entire park is up and running, plans are in place for 20,000 individuals to relocate.

Rendering of the NetEase Shanghai International Cultural and Creative Technology Park

Publicly available information indicates that the project originated from an investment intention agreement signed in 2018 between NetEase, the Shanghai Municipal Government, and the Qingpu District Government.

According to the agreement, the Qingpu District Government and NetEase will collaborate to develop the NetEase Shanghai International Cultural and Creative Technology Park. The aim is to fully implement cultural and creative industries that align with NetEase's and Qingpu's advantageous resources; expand NetEase's e-commerce business in accordance with local conditions; leverage NetEase's dual innovation incubation system to drive the settlement of upstream and downstream related enterprises and partners, thereby transforming it into an industrial park for NetEase that serves the Yangtze River Delta and extends its influence across China.

Following the signing of the agreement, in April 2019, NetEase established NetEase (Shanghai) Network Co., Ltd. in Qingpu with a registered capital of 1.03 billion yuan.

Subsequently, NetEase acquired several plots of land situated on the west side of Jiakai Road in Zhao Xiang Town, Qingpu. These plots include C4(b)-08, C4(b)-13, C4(b)-14, C4(a)-07, and C4(a)-01. The total land price was 949 million yuan, with an approximate cost of 2,500 yuan per square meter of floor area. The plots are in close proximity to Jiasong Middle Road Station on Line 17 and adjacent to Hemu Water Street. They cover a total area of 151,000 square meters (approximately 226 acres) and have a total construction area of 621,000 square meters.

In August of the same year, at the Global Esports Conference, the president of NetEase Games announced the company's plan to invest over 5 billion yuan in building a NetEase Esports Ecosystem Park in Qingpu. This park will encompass product development, competitive venues, team development, talent development, user experience, and esports supporting spaces.

In June 2020, the project officially commenced construction. As of now, the northern section of the project has been handed over, and the first phase of the southern section was recently completed. The remaining construction is scheduled to be finished by the end of 2025. The construction includes an esports arena, office buildings, technical experiment rooms, reception and exhibition centers, training centers, offline e-commerce experience stores, office and living supporting commercial facilities, and leased residential units.

Current Construction Status

The northern section comprises an esports arena and four tower podiums. The esports arena can accommodate 2,000 people and is currently the only Class A professional esports venue in Shanghai. It is planned to become the core venue for high-profile esports events in Shanghai, and international events have already been held here.

The first phase of the southern section mainly features commercial offices and hotels. It consists of six buildings: three 13-story office towers, a two-story podium, a 15-story hotel, and a three-story training building. The leased residential area spans 72,000 square meters and consists of two 69-meter-tall buildings, providing at least 659 talent apartments, which are already in use.

According to the plan, approximately 20,000 employees will relocate to the project upon its completion.

Official website information reveals that NetEase was founded in Guangzhou in 1997, listed on NASDAQ in 2000, and listed on the Hong Kong Stock Exchange in 2020. It is one of China's leading Internet enterprises, with core businesses primarily covering interactive entertainment, digital content, e-commerce, and portal websites.

As of the end of 2024, NetEase had a total of 26,000 employees worldwide. Domestically, its workforce is mainly concentrated in Beijing, Guangzhou, Hangzhou, and Shanghai, with branches also located in Japan, South Korea, Singapore, the United States, Canada, the United Kingdom, and other places.

On August 14, NetEase's latest financial report showed that its net revenue for the second quarter of 2025 was 27.9 billion yuan, representing a year-on-year increase of 9.4%. Its net profit was 8.6 billion yuan, a year-on-year increase of over 26%. Based on NetEase's total net profit of 18.9 billion yuan in the first half of this year, the company earns approximately 104 million yuan per day.

Focusing on NetEase's gaming sector, net revenue from games and related value-added services in the second quarter was 22.8 billion yuan, a year-on-year increase of 13.7%, accounting for 82.7% of total revenue. Its dominant position remains unchallenged.

In addition to profitable titles such as Eggy Party, Justice Online, Fantasy Westward Journey, and Identity V, in the first half of this year, NetEase also launched several games including Outer Edge, All-Star Street Ball Party, and Marvel Mystic Frenzy.

Interestingly, one of the conditions for NetEase to acquire a large number of plots at a relatively low cost in Qingpu District was that within five years after project acceptance, at least 20 game products must be initiated and developed.

"When major companies arrive, prosperity follows."

From Guangzhou Pazhou and Zhengzhou Airport Economic Zone to the now vigorously developing Qingpu in Shanghai, the strategy of first attracting major companies or super headquarters that can act as "chain leaders" has become a successful methodology continuously replicated in regional industrial development.

Taking Qingpu as an example, it has not only attracted NetEase, which is set to bring in 20,000 people, but has also introduced Huawei's R&D Center, which is expected to bring in 30,000 people—the Huawei Lianqiu Lake R&D Center.

Huawei Lianqiu Lake R&D Center

The Lianqiu Lake R&D Center is Huawei's largest global R&D center, located in the Xicen Community, Jinze Town, Qingpu District. Covering 2,400 acres with a total construction area of 2.06 million square meters and an investment of nearly 16 billion yuan, it surpasses the scale of Apple's headquarters and Microsoft's Seattle headquarters. Construction began in 2020, and it was put into operation in November last year.

Publicly available information shows that the R&D center has over 100 R&D buildings, with an overall design centered around water systems. It features seven characteristic architectural complexes: Plaza Town, Urban Block, Mountain Summit Settlement, Forest Town, Urban University Courtyard, Urban Classic Axis, and Water Town. It has been described by the media as: "Huawei has built a 'new city' in Xicen."

In addition, according to incomplete statistics, headquarters-level projects recently completed or under construction in Qingpu include the Shanghai Midea Global Innovation Park, Anta Group's Global Retail Headquarters, YTO International Finance and Technology Headquarters, and Kangheng Environment's Global Headquarters.