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HANGZHOU plans to build two centers and seven sub-centers to develop its commercial real estate economy, according to the 13th five-year plan for the development of the city’s commercial real estate industry.
One center will be in the area surrounding West Lake; while the other will be on both banks of the Qiantang River, at Qianjiang New City and Qianjiang Century City. These are the core areas for developing the commercial building economy.
The area surrounding West Lake includes six parts, one is the area west of Zhonghe Road, south of Huancheng Road N. and Tianmushan Road, north of Hefang Street and east of West Lake. The other five are located on Qingchun Road-Fengqi Road, Wulin, Hubin, Wushan and Huanglong. They are to become Hangzhou’s Recreational Business District, which will focus on trade, entertainment, culture, leisure and tourism.
The Qianjiang New City and Qianjiang Century City area will be the new political, financial and cultural center of Hangzhou.
The development of Qianjiang New City will focus on establishing a modern service platform that combines administration, commerce, finance, trade, IT, convention, culture, tourism and residential functions.
Qianjiang Century City will include a large-scale CBD to attract headquarters of large enterprises from home and abroad, multinational companies’ regional centers, financial institutions, companies related to exhibition and convention and modern logistics, as well as consultation and intermediary agents.
In addition, the city plans to set up seven sub-centers, including Jiangnan, or south of the Qiantang River, composed of Binjiang District, Xiaoshan’s urban area and the Linjiang blocks.
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