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Yujiapu billed as next big thing for financePublished: 23 Oct 2008 22:25:24 PST
Tianjin's municipal government plans to develop the city's Yujiapu area into a world-class financial innovation center in the next five to 10 years.

Yujiapu is an important part of the Binhai New Area's central commercial zone. With an area of 3.46 sq km, Yujiapu is situated on the north shore of the Haihe River in Tanggu district, with coastline on the other side.

Implementing the central government's plan for the Binhai New Area will be a significant step for the city, according to local authorities.

In conjunction with the International Union of Architects, the municipal government ran a seven-month global urban design competition in a bid to learn more about town planning.

As a result, a central avenue will be built, with clusters of urban structures around it. The center will be further divided into different areas including modern finance, traditional finance, education and training, and commerce.

The overall plan, involving a total construction area of 7.22 million sq m, involves one year for initial development, three years for overall construction, five years to establish the general scale, and 10 years to finish the project.

Yujiapu's initial area is the current priority for construction, according to the plan.

Detailed designs for infrastructure, roads and transport are expected to be completed by the end of September.Construction will begin on a 200,000 sq m financial exhibition center, 300,000 sq m of financial markets, 10 financial buildings, training centers and all the support facilities in Yujiapu by the end of the year.

Yujiapu will be connected to the Beijing-Tianjin Intercity Express Railway in the near future. It will take just 50 minutes by train to travel from Beijing to Yujiapu.



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