| Plant a Phoenix Treeto Attract Golden Phoenix |
| 8/30/2006 1:1:0 CBD Administration Committee |
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We did choose the right place to invest. Chaoyang district provides such favorable financial policy and the district government is so supportive. On July 10th, when the nine financial enterprises bosses, who were from Aviva-Cofco Life Insurance Co., Ltd, Generali China Life Insurance Co.Ltd, Samsung AirchinaLife Co., Ltd etc, took 9.43 million yuan subsidy from Mr. Chen Gang, the Chief of Chaoyang District, they said pleasantly. This is the first fund subsidy cash in policy for the financial enterprises that meet specified conditions in Chaoyang District.
In the CBD today, there are 36 financial institutes, almost 200 financial service enterprises. British Standard & Chartered Bank, Hang Seng Bank Limited, Citibank, Zurich Insurance all set up their offices in CBD. Those foreign financial institutes already in CBD successively increase their investment or expand their scope of business and upgrade the representative office to sub branches. People could not help asking what the reason can be that Chaoyang District is selected by the multi nationals besides the preferential policies.
Clearly functional positioned: Financial Industry Center
Chaoyang District has a name of First major district of foreign affairs and boasts more than 60% foreign institutes, 90% foreign news agency, half of star hotels of Beijing, foreign embassies and international exchange activities areas. With China entering WTO, and the opportunity to completely opening up of financial market at the end of 2006, this place has been favored by many financial institutes and relative industries from both home and abroad. Chaoyang District government announced on the Fourth Beijing Chaoyang Commercial Festival that it will make Beijing CBD a modern service functional area headed by international finance. From now on, Beijing CBD has its own functional position and developing orientation.
A lot of financial enterprises successively target at Beijing CBD market to open new financial enterprise, expand operation scope, and invest in local capital financial industry, as if being impelled. They increased their investment in China, which in turn injected an investment upsurge of foreign and local financial enterprises in CBD. When entering the earliest building such as International Trade Center, you will find people of different colors inquiring at the information desk and seeking for renowned names at the name list board. Federal Insurance Corporation, Credit Lyons Securities Beijing Office, Banque de i'indochine, Beijing Branch, the financial, insurance, and stock multi-nationals have already taken more than half of the office building. While more and more financial enterprises are situated individually in Beijing Fortune Center, Silver Plaza, Jianwai SOHO, the upcoming new office buildings in CBD. A modern service industry layout of finance, insurance, stock, consulting, IT and Communication headed by financial industry, has taken shape.
Complete Policy System: Speed up the Attendance of Golden Phoenix
On June 9th, 2005, Beijing CBD Financial Chamber of Commerce has been established, initiated by 25 international and local financial institutes offices and branches in CBD, such as UBS AG, Bank of Montreal, Standard Chartered Bank, BNP Paribas, Bank of America Corp, JPMorgan Chase Bank etc. This is a platform that links up the bridges between government and enterprises, enterprises and enterprises to complete service functions of government, providing favorable policy environment.
As early as CBD function was specified, Chaoyang District government adopted four measures that facilitate the financial enterprises to check in. And the four measures are: decrease the operation cost for the financial institutes, construct financial security zone, improve service and communication for the institutes and create favorable exterior environment for financial institutes. With the intensified opening up of Beijing service industry and Beijing financial policy guidance support, Chaoyang District government presented in Feb. 2006, the Implementation opinions on Beijing CBD (Opinions on improving Capital Financial Industry Development). This opinion provides one time fund subsidy to the financial enterprises newly established or moved in CBD which speeds up the construction of Beijing CBD international financial function zones.
In the recent year, Aviva-Cofco Life Insurance Co., Ltd moved in CBD, the first returned financial headquarter to Beijing. After that, Generali China Life Insurance Co.Ltd moved its headquarters from Guangzhou to Beijing CBD. The headquarters of China Life Insurance Company, Xinhua Life Insurance Company, Anbang Insurance Company, Samsung AirchinaLife Co., Ltd, and Sunshine Property and Casualty Insurance Company Limited that are located in CBD constitute more than ten financial headquarters in Beijing CBD. Besides, the No. 1 reinsurance company, Swiss Reinsurance Co, Beijing branch moved into LG plaza. Swiss Zurich Ins has upgraded its representative office to Beijing Branch. Hang Seng Bank Ltd. Beijing Branch, Bank of Bangkok Beijing Branch all selected CBD. HSBC set up branch in the International Trade Center, the first foreign capital bank that set up its branch in Beijing. Standard Chartered Bank set up branch in Lufthansa center. And Citibank opened its branch in Kerry Center. All these efforts have intensified the CBD financial Industry integration attraction and turning the International financial industry a leading industry of CBD service.
Optimizing Installation and Environment: Upgrading the Area Quality
The two afforest axis link up the east and west, decorated by the four theme parks. The ground traffic network is intensified with easy underground traffic. People know about the traffic without going outdoors. This is what CBD shall present to you recently. Although CBD is a very expensive area, Chaoyang government takes advantage of the space to make the commercial zone a green area integrated with culture, entertainment, commerce, and life. People working and living here shall enjoy a more comfortable environment.
It is planned to situate the historical and culture garden, performance art plaza, scientific and technology information park and natural science park in the northwest, southwest, northeast and southeast of CBD. The four gardens and parks are interconnected with each other by afforest zone and walk path, crossing the entire center of business district, forming the main afforest system in circles in CBD. It would be a pleasant style to appreciate the beauty of nature after work.
Besides the beautiful outdoor environment, Chaoyang government implemented new methods to treat the increasingly heavy traffic from both ground and underground. The district government shall readjust some roads and streets and crosses to intensify the density of the road network and increase the subway trains in north and south directions. Meanwhile, the core zone on either sides of the third ring road, public underground space are interconnected to form a smooth underground traffic. The dream is not far from being realized by driving past Tiananmen Square without surfacing the ground. Intelligent traffic is another attempt of CBD traffic management. In the near future, you can have a clear picture of the traffic outside within the office building, hotel or beside key roads with a simple click on the computer inquiry screen within CBD area. A manager of a foreign financial institute said, ?CBD develops in a surprisingly fast speed, which can be seen from the aspect of CBD environment amelioration. We have no reason not to invest in such a beautiful place.
With the seven years construction and development, Beijing CBD, the Phoenix tree, which is growing up strongly, shall attract more and more golden phoenix with its specific functional position, preferential financial policy and favorable office and living environment.
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