In order to serve Beijing's plan of building a comprehensive demonstration zone for the further opening-up of the service industry as well as pilot free trade zones, the Beijing Municipal Administrative Center looks to develop its canal business district and Zhangjiawan Design Town. The former will be developed into a Canal Financial City focusing on wealth management, green finance, and financial technology, among other functions, while the latter will continue to serve areas in "design + urban technology" and work to build an international design town and promote innovative practices.

An official from the "Two Zones" Construction Office in Beijing's Tongzhou district described how the district will carry out the development work in nine aspects, namely, by building a global wealth management center, a world-class design town, a high-end service industry cluster, an innovative comprehensive security system, a center for cultural and tourism integration, and a platform for the coordinated development of the Beijing-Tianjin-Hebei region, as well as create a pilot demonstration zone for streamlining administration, explore advanced models of green development, and promote innovative practices in the financial field.

The Canal Business District and Zhangjiawan Design Town are key areas for the construction of the "Two Zones" of the city's sub-center. Located at the intersection of the five rivers in Tongzhou district, the Canal Business District has a planned area of 20.38 square kilometers. Currently, there are more than 3,000 tax-paying companies in the district. The Zhangjiawan Design Town has a total planned area of approximately 5.4 square kilometers and includes over 100 high-end companies.

In order to attract myriad top international resources, including cutting-edge technology, talents, and industry leaders to the Canal Financial City and Zhangjiawan Design Town, the sub-center positions itself as a multi-layered technology-driven platform.

Meanwhile, the city sub-center will also build an open, shared, cooperative, and win-win governance system and explore new ideas in areas such as financial innovation, area improvement, business environment optimization, and green development.

It is expected that by the end of 2023, the city's sub-center will be able to foster a world-class business environment complete with high-end service industries, a vigorous design industry, and cultural tourism, and become a world-class home to international financial institutions.

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