Shenyang Pours 40Billion Yuan into Northeast Asia Financial Center Project

Annie

<>Located close to Shenyang North railway station, Shenyang financial and trade development zone is the second financial and trade zone in China, after Shanghai's Lu Jiazhui. Covering an area of 1.12 square kilometers, it was claimed to be a "Manhattan" in Northeast. </P>
<>Shenyang North railway station is the largest railway transportation hub in Northeast China and enjoys a unique superiority in passengers, goods and financial flows. Until now, the number of financial institutions in the zone has reached to 30. By the end of last year, the amount of deposits and loans of the banking industry in the zone were 89billion Yuan and 84billion Yuan respectively, accounting for 30% of the total in the whole city of Shenyang. </P>
<>With the zone's increasing development, the upgrade of the finance and trade development zone tells the importance and attention attached to it by Shenyang Municipality, according to a deputy head of the Research Department under Shenyang Municipal Government. In 1992 the development zone was only at the municipal level, in 1996 it was developed and administrated by Liaoning Province and in 2002 it was upgraded to a provincial development zone approved by Liaoning Provincial Government.</P>
<>The construction of Shenyang financial center includes two goals: to become the financial center in northeast China at first and then extend its influence to the whole northeast Asia." Says an official in the Office of Shenyang Financial and Trade Development Zone Administrative Commission. Shenyang municipal government has decided to invest 40billion Yuan to expand the zone. More than 60 high-rise buildings have been tentatively planned for inclusion in the financial center as its symbolic buildings.  

"In the south there's Shanghai Lujiazui Finance and Trade Zone, while there's Shenyang in the north." This is a pet phrase of Shenyang citizens. The total covering area of the zone will be 263 hektares after expansion.


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