| Deep and Far Influence of CBD on Chinese Economy |
| 2/1/2006 1:1:0 Beijing CBD |
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As an experienced banker living and working in Beijing for 20 years, Bank of Montreal's Managing Director and Country Head China and General Manager of Beijing Branch, Mr. Roger Heng reviewed the change and development of Beijing CBD, and pointed out that the function of CBD mustn be neglected, it is playing an important role in Beijing and even Chinese economic development, and must bring deep and far influence to Chinese economy.
As central business district of the capital city, Beijing CBD has obvious advantage whether in geographic environment, basic establishment building or talents collocating.
Among the world top 500 companies entering Beijing CBD now, there are more than 120 that have garrisoned CBD or around it, and the number is increasing each year, which means that numerous multinationals and international finance organizations have located their headquarters in Beijing CBD to command their whole business in China or even north Asia. High centralization of global leading companies here have not only promoted the international status of Beijing and brought new opportunities to Beijing development but also driven all industries within the country to a holistically high level at the same time.
Along with the constant spread of the Chinese market, more multinationals hope to extend their business in China, and as capital of China, Beijing is the first choice to set up organizations measured whether by political, economic or traffic conditions. Beijing CBD is near the international airport and embassies, which has provided them such a platform. And for Beijing CBD itself, it also needs support of multinationals to learn from other international business centers, to build high quality business environment and an international business center of China. Therefore, a reciprocal relationship has established betweenCBD and multinationals.
Firstly, CBD will also collect considerable number of advanced composite talents when attracting multinationals. Leading companies in each industry must absorb talents from many countries who possess international views, master cutting-edge technologies and skillfully utilize leading management models, they are marshaled to Beijing CBD therefore attracted to Beijing and China as well. The value and profit brought along with the talents are immensurable, which give prominence to CBD's promoting effect upon Chinese economy.
Secondly, talents are soft wealth. Beijing CBD brings not only talents but also a whole set of systems and management models to Beijing and China. As business center, many decisions which are crucial to China's economic development are all made here. And all excellent business decisions must have been investigated and researched fully at first, analyzed carefully and then been put out in virtue of a series of high quality systems. However, the decision making progress should not be stopped here, how it is carried out is also vital. Besides, all the decisions are indispensable from one another. Therefore, when a decision has been made, a whole system of monitoring and examining is needed to follow up the entire process in order to avoid, or at least decrease the risks to the lowest. And when problem pops up, it could be solved instantly. From investigation and research to analysis and comparison, and then to decision output, implementation, avoidance of risks and a long-term control later, only a holistic system can ensure that an ideal effect will be produced following the decision. So how is the decision being carried out relies much on whether the system is mature or not. As a result, a well-established control system becomes a determinant factor in the long-term development of Chinese economy. This advanced idea has not been used for a long time and now it is elementary, but its force on the future must not be ignored. As the business center of Beijing, Beijing CBD has become headwaters of the idea.
Thirdly, Beijing CBD has played a demonstration role for countrywide economic development. By learning experience of leading international companies and industries, local Chinese industries can widen their views and find their development goals. Beijing CBD, which is integrated with advanced ideas, models, management and talents, has gradually become a focus of people, and also become a yardstick to evaluate the degree of economic development and technological progress, and an important approach to get market on the international track.
Fourthly, the foundation of CBD enables multinationals to have a real headquarter in Beijing to develop their business. As an information center and a talents pool, communication between companies becomes faster and easier, and the efficiency got boosted remarkably. Thus, value created by the central district increases evidently comparing to the former dispersedly distribution model of enterprises. Certainly, this can not be cut from development of CBD itself. Looking on the past, basic and affiliated instruments have always been built rapidly and completed continually. To build a top-ranking international business center, great progress has been made whether in traffic, telecommunication, environment, real estate or service, thus a stability foundation has been built to cooperate and affiliate with multinationals effectively. Meanwhile, CBD also has acted as a bridge to link different companies and government. CBD will annually organize several international intercommunions and cooperation movements, such as Beijing Chaoyang International Business Festival, to exert its role as a center of economy, trade, culture intercourses.
The leading industries in Beijing CBD are finance, insurance, telecommunication, information and consultation. After fast development these years, multinationals in these industries have become the important part of economy and culture of Beijing or even China. They are active and healthy power accompanying with the development of Beijing and China in many fields, including Bank of Montreal. In CBD, foreign companies, especially financial muntinationals could be found anywhere.
After years of construction, CBD has been built as an international economic and trade center with many skyscrapers. At the same time, the gathering of world famous companies is driving an all-round development of related service industries including tourism, entertainment, conference, exhibition, and media. Considerable profits are being drawn from these fields and they indicate the direction of future development. Splendid architetures of CBD form a grandous sight for Beijing and highlight the solemnity and prosperity of this historical capital.Meanwhile, there are also some imperceptible but essential factors that should by no means be neglected. For instance, as an international language, English for a long time has been an obstacle to the communication of Chinese with foreign countries, thus prevented the merging of Chinese economy into the world market. Beijing has had once been short of English consciousness and English environment. But the problem was resolved mostly in CBD within several years. The special international environment it offered makes people realize the importance of international languages and promote English popularization and push forward international economic and trade cooperation and communion. Through such details, we can see that Beijing CBD is getting mature constantly.
With 800 years history as the capital of China, Beijing has profound cultural heritages. Accompanied with opening up and reforming policies, this ancient city is gradually taking lead in the globalization and is growing into a modern metropolis. In retrospective to the long history, all great cities had once gone through this painful but unavoidable process. The way of transition could be zigzagging, but a brighter future is always ahead. Therefore, far from a negative and disastrous process, this transition which Beijing is undergoing now should be a welcomed and promising one, and will definitely shape the capital into a political, cultural and communication modern center, while maintaining its traditional and treasured features. Mr. Heng has witnessed these great changes and development of Beijing in his 20 years working here. In his eyes, these are pleasant changes and should be treated with a positive attitude.He believed that a bright and broad prospect is laying before Beijing CBD. As the capital, with its rapid economic development and conspicuous rising of international status, Beijing is palying a more and more important role in world ecomony and politics. In the future 20 to 25 years, we can prodict that CBD will fully release its potential. And its influence is not only definite but also by integrating all the favorable elements, CBD will have greater and deeper impact upon Chinese economy.
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