Beijing Shijingshan district vies to become financial and tech hub

Shijingshan, an urban district in western Beijing, held an investment forum on Tuesday in a move to attract banking, insurance and innovative technology enterprises to start their businesses in their area.

Nearly 200 institutions and 300 executives from companies from China and abroad attended the forum. A number of companies including Taikang Pension Co Beijing branch and BTG-Jianguo Hotels & Resorts Management Co signed cooperation contracts with the Beijing Insurance Business Park from Shijingshan district.

Shijingshan is an industrial area with a long history that was once home to Shougang Group, China's leading heavyweight steelmaker. The area has strived to develop high-end and green industries to step up an economic restructure since Shougang halted its operations in the district in 2011.

From 2011 to 2016, Shijingshan has attracted over 9000 enterprises including 146 companies with registered capital of 24.8 billion yuan ($3.65 billion).