Central business district (CBD) originated in the U.S. in 1920s, which means the place where businesses gather. Central business district in modern sense refers to a place that owns a large quantity of supporting facilities including business offices, hotels and apartments as well as perfect municipal traffic and communication conditions and is convenient for modern business activities, where a large quantity of financial, commercial, trading, information and intermediary service agencies gather. Central business district is not only the symbol of the extent of opening and economic strength of a country or region but also the important mark of a modernized international metropolis. Manhattan of New York, La Defense of Paris, Shinjuku of Tokyo and Central of Hong Kong are world-famous CBD.
Master City Plan of Beijing approved by the State Council in 1993 definitely made the strategic decision of constructing Beijing CBD. In 2000, Beijing Municipal Committee of CPC and Beijing Municipal Government formulated the first five-year plan for the new century and made the decision of quickening the construction of Beijing CBD. In the past five years, the construction of Beijing CBD has been carried out step by step and fully quickened according to the work strategy of ??accurate positioning, scientific planning, municipal facilities first, market orientation, mechanism innovation, flexible development and key breakthrough?? and experienced five phases.
In 2000, CBD concept was introduced and function positioning defined.
In 2001, development planning was formulated and management organs were established.
In 2002, the construction of core area was started and infrastructure environment was optimized.
In 2003, industry positioning was determined and core competitiveness was enhanced.
In 2004, the construction of international finance area was fully quickened.
Beijing CBD borders on Xidawang Road in the east, Dongdaqiao Road in the west, Tonghui River in the south and Chaoyang Road North-Chaoyang Road in the north. With 3rd Ring Road E. (Dongsanhuan) as north-south axis and Jianguomenwai Avenue as east-west axis, a "golden cross" centering on Dabeiyao Bridge (International Trade Bridge) is formed. Its total planned area and total construction area are 3.99 square kilometers and 8-10 million square meters respectively. The construction area of office buildings, apartments and supporting facilities including commercial, service and entertainment facilities respectively accounts for about 50%, 25% and 25% of total construction area.
On the strength of exceptional geographic position and huge space of value increase, Beijing CBD has attracted the attention of numerous investors. The built-up area in the district is about 3 million square meters and estimated to reach 7 million square meters by 2008. There are 37 development projects at present. The planned land area is 145 hectares. The planned overground construction area is 7.43 million square meters. By March 2005, the number of projects under construction reached 22 and their area was about 5.3 million square meters. These projects include Beijing Fortune Center, Beijing Yintai Center, Central World Trade Center, New Site of CCTV, Beijing Television Center, Jianwai SOHO, New City ? International, etc.
With the progress of reform and opening to the outside and the development of market economy, the development environment of Beijing CBD has been constantly optimized after the planning and construction in recent years. On the strength of rich foreign-related resources, strong business atmosphere and perfect infrastructure, Beijing CBD has become the place of first choice for the top 500 enterprises in the world to enter Beijing. So far, about 3000 enterprises have entered Beijing CBD, including over 800 foreign-invested enterprises, 570 representative offices of foreign countries in Beijing, over 150 foreign-invested banks, insurance companies and securities companies (including their representative offices) and about 200 domestic and foreign intermediary service agencies such as law offices, accountants' firms and investment consultation agencies. 75% of the head offices of top 500 transnational companies and 75% branches and representative offices of foreign-invested banks in Beijing gather here. Hundreds of famous transnational companies and financial institutions including Shell Petroleum, HP, Ford, Samsung, Hitachi, Paris Bank, Swiss Bank Corp and AIA gather in high-class office buildings including International Trade Center, Kerry Center, Hanwei Tower and Hanghua Technology Trade Building. The industrial structure of coordinated development of modern service industries focusing on finance, insurance, consultation and intermediary service has preliminarily taken shape in Beijing CBD.
The construction of municipal infrastructure and significant projects has proceeded smoothly and investment environment has been constantly optimized. Foreign investment has been active and international exchange has been frequent. Beijing CBD has become a district with the greatest vitality and the strongest modern atmosphere and key functional area in the capital. It has made outstanding contribution to the formation of the capital's economic structure of "one line and two wings" and played an important role in promoting the rise of surrounding areas, especially the eastern economic zone. Meanwhile, it has also played a positive role in promoting the development of circum-Bohai Sea economic circle, the whole Chinese economy and even Asia Pacific economic circle. The construction of Beijing CBD will contribute to creating a Chinese port welcoming WTO, enhancing the driving force for the development of regional economy, developing the economy of the capital and improving its urban functions.
