The intended financial and business hub of the capital.

District officials in Chaoyang, the center of Beijing's CBD, say they will use their international connections to serve as the capital's financial and business hub even better under the 12th Five-Yea Plan (2011-2015).

And they are setting new economic development goals for the next five years, based on past experience.

They have reported that under the 11th Five-Year Plan (2006-2010), the district saw its GDP, revenues, imports and exports, and consumer spending all double.

Now, in looking forward to the next five years, they plan to adjust their economic development model further and consolidate international finance, trade, and communications.

Beijing's municipal government has come up with a strategy for better and faster social and economic development, the "High-tech Beijing, Green Beijing" plan.

Because of this, Chaoyang has its eye on international development as an international business hub, while improving the standard of living and increasing the urbanization of rural areas.

And, its "Double-10" projects will be stepping stones for this.

It has 10 projects in 10 industrial zones as follows; the CBD core; an eastward CBD expansion area; the Olympic Park area; an eastward expansion area for electronics; a Bohai-Bay headquarters; a green entertainment zone along the Wenyu River; the CBD-Dingfu Village international media area; Jingzhan financial services zone; the greater Wangjing sci-tech business innovation zone; and the Dongba international trade center.

Ten later projects relate to education, health care, culture, transport and commuting, habitat cultivation, intelligent city services, employment services, social security, and community services.

Chaoyang district will also be using a "Five axes, three zones" development strategy.

The axes refer to Olympic culture and sports development, science and technology, fashion, finances, the media, commerce, an economic corridor around Bohai Bay, and cooperation with Hebei and Tianjin.

The zones are the core business area inside the 3rd Ring Road, the metropolis, the business zone inside the 4th Ring Road, and a metro functions zone.

The district plans to improve its industrial system, giving priority to services, culture and creativity, finance, and new technology.

It also wants to get more involved in the IT business, new energy, and new bio-medicines.

Its traditional commercial services, real estate, and modern agriculture also need to be improved.

These goals hover around the "Double-10" projects, but have a practical use and clear definition.

They also have a bright future, the district leaders say, in taking social and economic development to a better level.

(China Daily 09/14/2011 page32)