Beijing sub-city center projected to be completed by 2035

China's State Council issued guidelines on supporting high-quality development of Beijing's sub-city center on Friday.

All the municipal-level Party and government institutions will move to the sub-city center located in Tongzhou district by 2025, according to the guidelines.

By 2035, construction of a modern sub-city center will be completed and it will form a high-quality development with the surrounding areas.

The nation will support qualified enterprises in the sub-city center and surrounding areas in mergers and acquisitions, reorganizations, equity transfer, bond issuance and asset securitization. Existing assets should be revitalized by means of operation and construction of infrastructure projects.

The sub-city center will be built into a financial innovation center for the Beijing-Tianjin-Hebei area. The country will encourage more financial institutions to set up offices there, especially green financing organizations and international green investment groups.