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Business

Last updated at: (Beijing Time) Thursday, September 25, 2003

'China's Wall Street' to be completed by 2008

Beijing Financial Street, which aims to be "China's Wall Street", should be
finally completed by 2008, the development company said Wednesday.

Liu Shichun, general manager of the Financial Street Holding Company, said a
total of 10 billion yuan (1.2 billion dollars) would be invested in
construction in the next three years.

The project would be "basically completed" by 2005, he said, noting the
street would become a key link between Chinese and international economies.

Addressing an international symposium on development of the Beijing
Financial Street, Liu said the street would embrace "four themes" --
globalization, ecology catering to human living, vigor, and financial
culture.

Apart from commercial buildings, the street was projected to include
five-star hotels, clubs for financial personnel and an international
convention center, as well as catering, physical fitness and leisure areas,
and a central park.

"We will build a vigorous financial city with exotic charms, providing
round-the-clock business services," Liu said.

Since construction was launched a decade ago, the Financial Street Holding
Company had developed two million square meters of land, with a total
investment of 14 billion yuan.

Altogether 530 financial institutions and well-known enterprises had moved
to the street, making it a central financial area in the Chinese capital.

Another source said the local government had established a special office to
formulate and supervise the implementation of preferential policies
supporting the street's development.

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