China's Tianjin Municipality is planning to develop its Yujiabao area into one of the country's largest financial districts, covering an area of 3.86 square kilometers, China News Service reports.
The project was started in 2009 and is expected to be completed in ten years' time. Total investment will reach 200 billion yuan (29.5 billion U.S. dollars) for the district, which is located in the core area of Tianjin Binhai New Area Central Business District.
The upcoming financial district will include 9.5 million square meters of office buildings, hotels, conventional centers and commercial residential buildings.
So far, 65 enterprises have registered in the district, with registered capital of 16.5 billion yuan, covering the fields of fund, trust, insurance and stocks exchange, according to vice mayor Cui Jindu.
