The Canal Business District of the Beijing Municipal Administrative Center, also known as Beijing's sub-center, has demonstrated strong growth momentum in recent years.

From being an area of old residential blocks and construction sites, it has evolved into a place of landmark buildings, a center of emerging green finance, and a harmonious blend of water and urban landscapes, said Che Xinwei, a senior official of the business district.

It now hosts 22,944 registered businesses with a total registered capital of 492.8 billion yuan ($68.51 billion). Over the past three years, there has been an average annual addition of 4,100 businesses, including 48 company headquarters, 295 financial firms, 118 high-tech enterprises, 23 innovative SMEs that use special and sophisticated technologies to produce novel and unique products, as well as two listed companies.

The Canal Business District was officially founded in 2017, with its total planned area expanding from 3.06 square kilometers to 20.38 square kilometers. Its total built-up area has increased from 6.74 million square meters to 13.79 million square meters. 

Today, the district is striving to become a hub for the headquarters economy and a core area for global wealth management, global green finance, and sustainable finance centers, and developing into a comprehensive area with a focus on financial innovation and high-end business, according to officials of the district.

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