Nowadays, China has become the world’s second largest economy. With an average growth rate of 10% in the past 30 years, more and more international companies and investors are turning to the country as an investment opportunity, especially Futian Central Business District. Situated in Shenzhen, Futian was once a fertile farmland, but due to recent economic and urban development, experts predict that this business district will become the next Manhattan. While the district’s future may look bright and optimistic, there are a few factors to consider when determining the success of a business district:
If Futian were to be considered as the next Manhattan, the central business district would need to be perceived as a global district. Although the key languages spoken in Futian are predominantly Mandarin and Cantonese, there are an increasing number of international financial and investment companies setting up shop in the district, including headquarters for the world’s top 500 companies, multinational groups and overseas industrial leaders. As the district’s motto is “Encourage innovation, forgive failure, pursue excellence”, the district highly welcomes international companies and investors to develop their business within the district.
The state of the economy is also another important factor to consider when measuring the success of a business district. According to the Futian government website, Futian CBD has a stable and growing economy, with an annual growth rate of around 9% and the GDP per capita reaches US$30,000. Experts also predict that by the year 2015, the GDP in the district will reach 275 billion yuan.
The great thing about Manhattan is that there is a piece of nature in the middle of the bustling city. This may not be directly correlated to the success of a business district, but nature contributes to the aesthetics and air quality of a business district. While sustainable development may not be the first thing that comes to mind when people think about China, Futian aims to create a natural eco-zone by encouraging energy conservation and low carbon emissions in the district.
Commercial and real estate development
When a business district has a number of new residential and commercial developments, this shows that there is room for improvement and success in the business district. The most recent commercial development is the CFC (China Front Centre), which aims to become the iconic commercial centre of Futian district. The new development also hopes to attract international investors with its convenient location, unique landmark and eco-friendly office spaces.