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The central business district (CBD) of Beijing is home to 2,075 businesses, including 457 multinationals, more than that in any other CBD in the country, the Beijing Morning Post reported Friday.
About two kilometers east of Tian'anmen Square, the CBD covers four square kilometers in Beijing's Chaoyang District, where over 60 percent of the city's foreign-funded companies and more than 50 percent of star-rated hotels are located.
According to the newspaper, the monthly rent for A-class office buildings in the CBD stands at US$50 per square meter, which is almost the same price as that in New York, and 96 percent of offices are rented.
Observers believe the prices of office buildings in a city's CBD directly reflect the degree of economic prosperity of that city and its global impact.
A total of 14 real estate development projects are being constructed or are still in preparatory stages in Beijing's CBD, of which seven involve overseas investment, said the newspaper.
These projects will have a combined floor space of 3.3 million square meters and will cost 47 billion yuan (US$5.66 billion).
(Xinhua News Agency August 2, 2002)
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