Work on Chongqing's financial hub begins

Chongqing municipality in Southwest China will invest 30 billion yuan ($4.4 billion) to become a financial center in the upper reaches of the Yangtze River in 2015.

Its ambition was self-evident at the ceremony to lay the foundation stone for the construction of the Chongqing Financial Center on Monday.

It is the first commercial real estate project launched in the Jiangbeizui central business district in the city, where the Yangtze and Jialing rivers converge.