On the morning of November 19, 2020, Su Guobin, deputy district mayor of Tongzhou District, delivered a speech at the Beijing Investment Promotion Meeting of the 23rd Beijing-Hong Kong Economic Cooperation Symposium. Su Guobin noted that the investment in Beijing's sub-center, which is located in Tongzhou District of Beijing, totaled CNY 120 billion in 2020, accounting for 17 percent of Beijing's total aggregate investment. During the 14th Five-Year Plan, the sub-center will witness the planning and construction of a large number of major projects with the total investment amount expected to be around CNY 800 billion.

On January 11, 2019, with the official relocation of Beijing's municipal party and government organs to the sub-center, Tongzhou officially entered the era of being Beijing's sub-center. According to the development plan, Beijing's sub-center and Xiong'an New Area of Hebei Province will become the new wings of Beijing's development. Tongzhou will strive to become a demonstration area for a world-class harmonious and livable city, a new-type urbanization and coordinated development in Beijing, Tianjin, and Hebei Province.

According to the financial development plan of the capital, Beijing's sub-center will focus on modern financial industries such as wealth management, Fin-Tech and green finance, so as to create an enabling environment for financial development and a new engine of financial innovation in Beijing, avoiding overlapping with the center of Beijing. Currently, with all kinds of high-quality resources available, Beijing's sub-center has become a favored destination of startups and investments where major projects with investment amount exceeding CNY 1 billion are being implemented at a faster pace.

Su Guobin noted that Beijing's sub-center has abundant space and resources for industrial development, which will be available for leasing and sale. The space can mainly be found in three key areas: the Canal Business District, the Cultural Tourism Zone and the Tongzhou Park of Zhongguancun Science Park. Among them, the Canal Business District is an significant part for the international business service section of the Beijing Free Trade Zone and a main venue for the business service function of the sub-center. It will focus on developing the functions of emerging financial services such as headquarters economy, wealth management and green finance.

Meanwhile, with its financial ecosystem in the making along the Grand Canal, the sub-center is on track to become a globally leading new urban business hub on a par with top large international business districts like Canary Wharf in London, Shinjukuin Tokyo and Central District in Hong Kong.

(Note: Content source is from The Beijing News.)