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Yujiapu Financial District
Yujiapu Financial District (Chinese: 于家堡金融区) is an under construction central business district in China’s Tianjin Binhai New Area. The area is envisioned as a potential center for world trade and finance. The district is being developed with a total investment of about 200 billion Yuan, and is located on the Haihe River North Shore, with Xiangluowan Business District and TEDA. Yujiapu was originally scheduled for completion in 2019, offering 164 million square feet of office space over an area larger than Manhattan’s financial district in a bid to stimulate development of vast residential districts nearby.
Part of the reason for this ambitious project was Tianjin’s effort to become a ‘first-tier’ city similar to Beijing or Shanghai. Located only 130 km away from the capital of China, Tianjin has had a long history of rivery with Beijing in terms of both financial resources and political influence. While politically it seems impossible for Tianjin to ever compete, a renewed effort to become the fianancial center of the North was undertaken ever since 2008, and has since attracted many new business to the area. This has stimulated
a large building boom in both Tianjin and surrounding areas.
There may still be a financial reckoning for Tianjin looming in the future, but right now there are green shoots of economic life in the urban districts at the center of the city’s unprecedented construction boom.
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