Related stories

International Education Exchange Event Slated for Capital District Head: Come to Xuanwu for Business, Culture Planners Outline Brave New Vision for Capital: Foreign companies invited to design cities of future Provisional Rules on the Administration of Foreign Enterprises Engaging in Design Activities for Construction Projects within the People's Republic of China (the "Rules") Call for Toilets in Business Venues to Open to Public

$2.41b Earmarked for Capital's Core CBD Construction

The building of a four-square-kilometer Central Business District (CBD) core in Beijing is set to begin this year after the establishment of a company whose role is to manage construction. Its major responsibilities also embrace primary land development, the construction of infrastructure, and inviting investment.

Sources with the company said work on a 30-hectare core area would be completed by 2008. An investment of 20 billion yuan (US$2.41 billion) will be injected into the development, which is planned to have a total floor space of eight million square meters.

Located two kilometers east of Tian'anmen Square, the planned CBD area is already home to 27 large-scale office buildings and numerous transnational companies, including more than 100 which are on the Fortune 500 list.