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Beijing Dongcheng District
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Business Overview
  Strong economic foundation. Key economic indicators showed rapid growth in Dongcheng District in recent years. Its various economic aggregates, per capita indices are ranked foremost in Beijing. The finance industry, information services industry, business services industry, production type services industry, and the cultural and creative industry will be the key industries for future development in Dongcheng District.
   
  Steady advancement in the development of the ‘Three Districts’.
   
  The modernized Wangfujing Central Business District, with its planned land usage of 1.65 square kilometers is in the process of upgrading. The construction of the ‘Second Business Cluster’ with a total floor area of 2.8 million square meters, inclusive of its completed and uncompleted part of the commercial facilities that are still undergoing construction, is going on smoothly.
  The convergence of business and culture, the concentration of famous brands, and the concept of combining shopping, entertainment, culture, tourism and leisure in one, has made Wangfujing Central Business District the most popular world-class commercial street.
   
  East Second Ring Road Business District, with a floor area of 5.39 square kilometers was designated the capital’s financial district for emerging industries in 2008. Due to its ideal location, accessibility, the advantage of government policies and services, it is able to attract the establishment of 400 enterprises, which include some of the global top 500 enterprises, China top 100 enterprises and the regional branches of foreign and domestic financial organizations.
   
  Yongheyuan Zhongguancun Technology Park, with a floor area of 3 square kilometers, was designated the ‘National Internet Gaming and Animation Industry (Beijing) Development Base’ in 2006, and is one of the first cultural and creative industry zones in Beijing. Currently, effort is being made towards the planning and development of the area, which include the implementation of relevant policies to promote the development of key projects, to gradually develop Yongheyuan Zhongguancun Technology Park into a strong engine for promoting the economic restructuring of the area & to develop it as a base for technological innovation.   
   
  The capital’s financial district for emerging industries.
   
  There is clear direction in the development of the finance industry. Taking advantage of high rise commercial buildings along East Changan Avenue and East Second Ring Road Business District, great effort is put into the development of financial services such as banking, securities, insurance and trusts to attract financial organizations, such as the Beijing branch offices, sub-branches and sales departments of foreign and domestic banks, domestic and foreign insurance companies, the headquarters of securities firms and the finance companies of large enterprises.
   
  The birthplace of the finance industry in the modern history of Beijing.
  In the history of Beijing, foreign and domestic banks are concentrated in Dongcheng District. During the late Qing Dynasty and the early years of the Republic of China, Dongjiaominxiang in Dongcheng District is where foreign banks are the most concentrated. More than ten famous foreign banks such as HSBC, Citibank, Banque de l'Indochine, Standard Chartered Bank, Yokohama Specie Bank Ltd,
  Deutsch-Asiatische Bank, American Express and Русско-Азиатский банк were located here. At that time, Beijing’s four biggest banks, Hengli, Henghe, Hengxing and Hengyuan were located in the Dongsi area of Dongcheng district.
  There was a popular proverb: “Wear a hat made by Ma Juyuan, clothes by Rui Fuxiang, shoes by Nei Liansheng, carry bank notes issued by Four-Heng.” Four-Heng refers to the four biggest banks in Beijing mentioned above. 
   
  The current finance industry is developing rapidly.
  Since the reform and opening-up policy was adopted more than 30 years ago, Dongcheng District has inherited and continued to assert its historical position as the financial hub of Beijing. Under unceasing reform and innovation, the finance industry of Dongcheng district has achieved continuous growth, accounting for about 15% of total GDP. Currently, Dongcheng District has more than 20 foreign banks including HSBC, Bank of East Asia, Standard Chartered Bank, Korea Exchange Bank, National Australia Bank, Bank of New Zealand and Bank of Montreal; numerous domestic banks such as the Agricultural Bank of China, The Export-Import Bank of China, Hua Xia Bank and China Citic Bank; the Beijing branch offices of Bank of China, SPD Bank, Guangdong Development Bank and Bank of Hangzhou; several famous insurance companies such as the Beijing division of PICC, China Life, Sun Life Everbright Life Insurance and Citic-Prudential Life Insurance Company; renowned fund management companies such as Credit Suisse Asset Management Company and Harvest Fund Management Company. In addition, China Investment Company, the largest investment enterprise in China, and the finance companies of large-scale enterprises such as CNPC, CNOOC, China Shenhua Energy Company and China Poly Group Corporation are also established here in Dongcheng District.
   
  A fertile ground for the development of financial enterprises.
  There are altogether 149 commercial buildings, with a total floor area of 6.43 million square meters. These buildings are mainly located in the modernized Wangfujing Central Business District, East Second Ring Road Business District and Yongheyuan Zhongguancun Technology Park. They include grade 5A commercial buildings such as the Oriental Plaza, Glory International Center, New Poly Plaza and other commercial buildings of various grades.
  Currently the total floor area of completed and uncompleted part of the commercial buildings that are still undergoing construction, that can be used for rental or sale is about 2.5 million square meters, which provides abundant space for the further development of the financial industry in Dongcheng District .
   
  Dongcheng District houses two of the three biggest petroleum corporations in China, namely, CNPC and CNOOC; three of the four biggest accounting companies in the world, namely, Deloitte Touche Tohmatsu CPA Ltd., KPMG and Ernst & Young; information services enterprises such as Nokia Siemens Networks and CMCC Beijing Division; several financial enterprises including ABC and Beijing Division of Bank of China; and cultural and creative companies such as Enlight Media and Beijing Gehua CATV Network Company. These enterprises have provided an abundant supply of diversified customers for the development of the finance industry in Dongcheng District.