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|Friday, August 11, 2000, updated at 11:04(GMT+8)|
Beijing Chaoyang Area Positions to Become New ManhattanA business festival will begin on next Tuesday to help accelerate development of Beijing's central business district (CBD)and increase commerce in eastern Beijing, said Li Shixiang, director of the Chaoyang District government.
"Business District construction will highlight the four-day fair, called the 2000 Beijing Chaoyang International Business Festival, Li said at a press conference Thursday.
The planned district, which would cover four square kilometres between the Second and the Third Ring roads from Chaoyangmen to Jianguomen streets, will help Beijing become a modern international metropolis and improve the environment for foreign investment, Li said.
The district would be fully built in the next three to five years, Li said. The State Council approved plans for it in 1993.
The festival's organizing committee will include an exhibition of foreign business districts such as New York City's Manhattan, Li said.
"The committee will organize an international business district forum to gain more advice conducive to the Beijing district construction,'' Li said.
More than 500 officials, experts and entrepreneurs are scheduled to attend the forum.
The district will accelerate the economic development in eastern Beijing to complement the build-up of Zhongguancun Science Park in northwestern Beijing, Li said.
Li added that the committee also will organize a forum to gain more advice helpful to Beijing, Li said.
During the festival, Li said, the Chaoyang District government will introduce 363 projects available for foreign investment.
The projects, valued at about 49.7 billion yuan (US$6 billion), involve in modern agriculture, for rural areas of the Chaoyang District, high-tech business, real estate and idle business or industrial facilities.
The festival's main sponsors are the State Internal Trade Bureau, the China Mayors' Association, the Beijing Sub-Council of the China Council for the Promotion of International Trade, the Chaoyang District government and the Beijing Municipal Institute of City Planning and Design.
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