Tongzhou released the implementation plan for the international business service area of China (Beijing) Pilot Free Trade Zone (hereinafter referred to as "the Plan") on December 31, 2020. The Plan focuses on the construction and development of the Canal Business District and Zhangjiawan Design Town to develop a financial harbor and a specialty town of design at the international level.

The Plan leverages on the strategic positioning of Beijing municipal administrative center and centers on institutional innovation in a bid to develop the area of Tongzhou into a pacesetter for reform and opening-up.

A total of 10.87 sq.km in peripheral areas  is planned for usable industrial space of the Canal Business District and Zhangjiawan Design Town.

The Plan focuses on eight key aspects: constructing a global wealth management center, research ing and exploring advanced mode for environmentally friendly development, promoting innovation and practice in financial field, building an international-level design town, promoting innovation and practice in Zhangjiawan Design Town, creating a cluster of high-end service industry, forming an innovative and comprehensive security system, and setting up a model of coordinated development in the Beijing-Tianjin-Hebei Region.

According to the Plan, by the end of 2023, it will take around three years to explore and develop the area into a cluster featuring agglomeration of high-end financial resourcese, dynamic technological and innovative ecology, comprehensive and professional supportive services, abundant resources of design industry, open and diversified application scenarios, favorable environment for innovation and entrepreneurship, and a livable environment.

(Note: Content source is from Xinhua)