The Hualian shopping mall, located in Beijing's Xicheng district, is being renovated into an office complex poised to attract fintech companies, as part of the city's efforts to promote urban renewal.

Nearing its final stage, the renovation project is expected to be completed in the first half of this year. Most of its 29,000 square meters of space will be converted into professional business suites. 

A highlight of the remodeling is the focus on green transformation. The transformation includes the installation of a distributed photovoltaic system, which, according to an official from the Beijing Municipal Commission of Development and Reform, will significantly reduce energy consumption. Upon completion, the building's rooftop will be equipped with 571 photovoltaic panels, which will generate an estimated 370,000 kWh of electricity annually.

Many enterprises have already expressed their eagerness to set up offices in the new building, with the majority of interest coming from the fintech sector, said a person in charge of the renovation project. The project also aims to attract enterprises that use sophisticated technologies to produce novel products and unicorn companies. 

In recent years, Beijing has strengthened efforts to accelerate the renovation of old factories and other underused industrial spaces. These efforts involve providing investment subsidies and loan interest discounts.

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