Financial Street
Since the program on Financial Street was put forward in Beijing General City Plan in October 1993, the Financial Street has gathered over 300 famous companies for finance, telecom, etc., including three big financial regulatory and supervisory institutions-The People's Bank of China, China Securities Regulatory Commission and China Insurance Regulatory Commission, and three big commercial banks-Industrial and Commercial Bank of China, Bank of China and China Construction Bank. According to statistics, the total assets in this region amounts to 1,300 billion RMB, contributing as much as 700 billion RMB to GDP per annum, by which it has established its position as China's financial management center and is growing into a strong competitor to regional international financial centers. China's access to WTO also offers an once-in-a-lifetime opportunity to uplift the international position of Financial Street.
It is planned that the Financial Street will be completed basically in year 2004 and wholly in year 2008. From the launching of the first project in the new area of Financial Street to the end of year 2001, one thirds of the total construction work has been fulfilled. The Area C and D in the south have been basically completed, and the key projects in Area A, B and G already launched. Recently, the Guoqi Building, which was put into used long before, rejects small tenants and accepts only large clients, which is said to be the government implication. Manager of Financial Street Holding Co., Ltd., however, asserts that it is the individual behevior of Guoqi Building, but not contradictory to the development strategy of the whole region.
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