In its move to develop commerce, the Beijing commerce commission has started a campaign to build more headquarters economy zones and service industry zones and, in the process, Fengtai Park got a "Beijing Headquaters Economy Zone"designation.
Fengtai, which is in the Zhonguancun high-tech area, had to apply for the designation, then undergo a district examination, on-site exam, and review by a panel of experts. In getting the title, it joined Beijing’s Finance St and Central Business District (CBD) and five other parks.
During the 2nd China (Beijing) international Service Trade Fair,for "Beijing day"the municipal commerce commission gave the nod to the eight "Headquarters Economy Zones" and six "Service Industry Zones" This means that Fengtai will qualify for more favorable policies, financial support, and information services.
Fengtai came up with the "Headquarters Economy" idea as early as 2002 and was in fact China’s first park make this idea a reality.
A headquarters economy is typically identified with five centers -- enterprise decision-making and management, science and technology R&D, financial settlements, capital operations, and marketing.
After more than 10 years of development, Fengtai has undergone some transformation and industrial upgrades and has attracted major enterprises, listed companies and local companies, who now call it home.
Edited by Wang Yifei and Roger Bradshaw