Central business districts usher in international age

An illustration of the Longxiang International Commercial Center, located at the center of the new area’s Beihu Scientific and Technological Development Zone. Provided to China Daily

Four commercial centers designed to serve as central business districts of Changchun New Area will play an important role in strengthening service capabilities of the new area, said the area’s administrative committee.

They are also about to increase the internationalization of the new area and boost its development.

Central business districts, or CBDs, represent cities’ most essential landscapes, have been appearing in China’s major economic powerhouses.

It is traditionally a concrete jungle of high-rises, such as Manhattan in New York and Central in Hong Kong, and dominated by tertiary industries, not traditional ones. The most advanced and developed sectors in these modern societies include finance, insurance, securities and accountancy.

The CBD is seen to have a function of economic control as it’s a district many multinational corporations in the industries of finance, trade and insurance are headquartered. These large companies have the ability to dominate local economic development in a market economy.