Nation's first business park for company headquarters to debut in Beijing

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Last updated at: (Beijing Time) Thursday, October 30, 2003

Nation's first business park for company headquarters to debut in Beijing

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By the end of this year, the first business park in China for company headquarters will make its debut in Fengtai District of Beijing, and the headquarters of 80 large enterprises will move into the park by then.

Dauphin Xu, executive director and Asia Pacific president of DAUPHIN International Group, released the news when addressing the International Forum on Urban Development which opened in Beijing Wednesday.

Xu is also chairman and general manager of the park, which is called ABP (Advanced Business Park), specially designed as office quarters for large enterprises.

With a cost of 4.5 billion yuan (about 543.6 million US dollars), the ABP will offer office towers for 500 large enterprises and nearly 2,000 medium and small companies when it is completely finished, said Xu.

Among the first 80 large enterprises to enter the ABP at the end of this year, Xu said, 95 percent are high-tech companies, including some world famous names.

Xu said that today the regional economy is developed across China from the south to the north. For instance, a huge special economic zone came into being around the Pearl River Delta and a regional economy formed in the Yangtze River Delta with Shanghai Pudong New District at its core.

"The center of China's next regional economy may quite likely be Beijing, and that is why the ABP will be set up here," he said.

Statistics show that in the first eight months this year, Beijing reported its GDP (gross domestic product) as 212.37 billion yuan (about 25.66 billion US dollars), up 9.9 percent year-on-year, using foreign capital of 1.5 billion US dollars, a surge of 10.7 percent.

By now, 293 of the world's top 500 companies have set up branch offices or research centers in Beijing, with 24 of them choosing Beijing as their regional headquarters.

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