The transformation of the former shoe mall, the inauguration of the Fengtai International Business Development Center, and the invitation to investors... The opening ceremony of the Fengtai International Business Development Center was held on June 5 at the Beijing Jingyin International Center. Professionals such as JIN Xu, President of the China Association of International Trade, John Mclean OBE, Chairman of the China UK Business Development Centre, MAO Shanhong, the specially engaged expert of the municipal government and chief scientist of Fengtai District, and Samuel Parson, Deputy Head of Trade Policy at the British Embassy in China, attended at the event, as well as 30 foreign-funded institutions.

Asia’s Former Largest Shoe Market Undergoes a Glamorous Transformation

To Become Regional Headquarters for Multinationals

The predecessor of Jingyin International was the Dakang Shoe Mall constructed in 2005. Nineteen years later, this previously largest footwear wholesale market in Asia has undergone a significant transformation and has been upgraded to Jingyin International Center. This new center combines a landmark structure with innovative businesses and high-end offices. In 2023, it was recognized by the Beijing Municipal Commerce Bureau as the regional headquarters of multinational companies.

Jingyin International has transformed the traditional commercial trading center into a cutting-edge “new urban business model”. After an extensive renovation and upgrade, the project now encompasses 137,600 square meters of construction area, not only restores the original building’s facade but also upgrades the building’s fire protection, electromechanical, energy-saving, and intelligent systems, and successfully represents the cities’ technological and human landscape.

Jingyin International has entered into contractual agreements with a number of prominent, high-quality enterprises in communications, finance, technology, media, and other industries, with a total contracted leased area of approximately 40,000 square meters. By consistently attracting high-tech enterprises to establish a presence in the region, it drives industrial transformation and upgrading, releases regional vitality, expands industrial development space, and establishes a new benchmark for urban revitalization.

Against the backdrop of quality improvement with reduced quantity, Fengtai District is entering a period of significant economic growth. Jingyin International is revitalizing regional resources through urban renewal, attracting high-quality enterprises from home and abroad, not only driving the introduction of new business formats and functions to the region but also enhancing the international business level of Fengtai District and Beijing City.

Fengtai International Business Development Center Unveiled

Aiming to Become a Hub for International Organizations

At the event, the Fengtai International Business Development Center officially opened, and the China UK Business Development Center was established. In the speech, John Mclean OBE, Chairman of the China UK Business Development Center, outlined the center’s strategy to leverage its service network across China and the UK to widely publicize the Fengtai International Business Development Center, actively gather resources, and attract innovative British and European companies to learn about Fengtai District.

The Fengtai District Commerce Bureau has seized the opportunity presented by the construction of the “Two Districts” to establish the Fengtai International Business Development Center at Jingyin International. This has created a high-level international exchange platform, a high-quality comprehensive service platform, and a high-level institutional innovation platform. At the opening ceremony, the head of the Fengtai District Commerce Bureau highlighted the district’s reputation as an attractive destination for businesses, citing the introduction of over 50 foreign-funded enterprises annually for three consecutive years. Furthermore, a considerable number of foreign-funded enterprises, including Amazon China, the London Stock Exchange Group, and the China headquarters of Thunes, have established a presence in the region. This initiative aims to align with international standards in economic and trade regulations, facilitate the cross-border flow of capital and talent in sectors such as finance and technology, and accelerate the region’s opening to the global market.

Following the establishment of the Beijing Fengtai RCEP Investment Promotion Service Center in 2023, the Fengtai International Business Development Center has become another gateway between Fengtai District and international businesses. Fengtai will leverage its global network and resource advantages to facilitate connections between government and enterprises, as well as integration with the international community. The district will continue to expand its overseas partnerships, attracting more international institutions, high-end talents, exhibition and event activities, and foreign-funded projects to Fengtai.

Currently, Fengtai is constructing the Fengtai Legal Affairs Zone to implement a few pioneering convenient government services, including the “One-Stop Service for Foreign-Funded Enterprises” window and the “Green Pass Card for Government Services”. This initiative aims to establish an open and convenient environment to facilitate the growth of foreign-funded enterprises. The head of the Fengtai District Commerce Bureau stated that in addition to providing facilitation services for international cooperation projects, Fengtai District will also continue to expand the breadth and depth of exchanges and cooperation with international organizations. The goal is to achieve open exchanges and shared development, as well as to provide in-depth Chinese market and business support for the incubation of foreign business projects. (Correspondent: TANG Heng)