New business center

Does Beijing really need so many business centers?

The Beijing municipal government is planning to build a new business center, Li Ze, in the south, adding to the three it already has; Guomao in the east, Zhongguancun in the west and Wangjing in the north.

Beijing's economy is smaller than that of New York, Tokyo, Paris or Hong Kong. But each city has only one business center.

City resources, particularly space and money, should be allocated carefully. Wasting them must be avoided.

The newly-planned Li Ze business center has similar functions to the other three business centers. It will cost 6 million yuan to build and will take up 5.25 sq kilometers, according to the municipal government. It will provide 70,000 jobs and turn in 4 billion yuan in tax every year once operational.

But experts said the money and space could be used in other ways that would create twice as many job opportunities.

The Beijing municipal authorities could also use those resources for the public's benefit, such as by building more low-priced housing.

More low-rent housing will help attract more college graduates. Creating an affordable environment for talented young people will inject more vigor to the city and help boost its innovation.

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(China Daily 05/04/2009 page2)