Beijing Promotes CBD Construction

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Last updated at: (Beijing Time) Saturday, August 10, 2002

Beijing Promotes CBD Construction

Construction of a four-square kilometer central business district (CBD) in Beijing is set to begin this year after a company was established Thursday to manage construction.

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Construction of a four-square kilometer central business district (CBD) in Beijing is set to begin this year after a company was established Thursday to manage construction.

Its major responsibilities consist of primary land development, 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 (2.41billion US dollars) would be injected into the development which is designed 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 on the Fortune 500 list.

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