Beijing Financial Street Host to over 1800 Institutions, 102 Trillion Yuan in Assets
The Beijing municipal government has unveiled new data on the scale of the city’s long-standing financial hub.
Speaking at the 2019 Financial Street Annual Forum (2019金融街论坛) on 29 May Sun Shuo (孙硕), head of Beijing’s Xicheng district, said that the Beijing Financial Street area is currently host to over 1800 financial institutions, and that the assets of these financial institutions have reached 102 trillion yuan, accounting for 40% of all Chinese financial institution assets.
The Beijing Financial Street area also accounts for 40% of national renminbi payment operations, and 60% of foreign currency payment operations.
Beijing Financial Street is 1.18 square kilometres in area and has been existence for over two decades, with the State Council announcing in 1993 that the region between Fuchengmen Gate and Fuxingmen Gate in the innermost 2nd Ring Road would be a specialised area for state-tier bank headquarters.