Shanghai's North Bund will become a shipping service center for cruise liners and an international financial center for headquarters of global corporations as part of a "golden triangle" along with the old Bund and Lujiazui, officials said yesterday.
The North Bund in Hongkou District witnessed the opening of 185 financial institutions last year, quadruple the number of 2010 and second only to the city's Pudong New Area, said Wu Qing, governor of the district.
"The North Bund will emerge as the third pillar for the city's development into a financial hub along with the old Bund and the Lujiazui area with the clustering of financial institutions," said Wu, speaking at the annual North Bund Fortune and Culture Forum.
Meanwhile, a national level shipping service base and cruise liner development zone has been established in the area to attract large cruise liners to dock along the North Bund.
The area also will provide supporting commercial facilities of up to 300,000 square meters, including restaurants, cafes and shops, officials said.
A 2.6-kilometer-long waterfront promenade along the Huangpu River has opened for sightseeing. The skyline and illumination of the buildings in the North Bund will be designed for a harmonious effect, officials said.
The district government plans to put 300 million yuan (US$48.3 million) into an investment fund for incentives to businesses and also will improve its public services to attract more financial and shipping industry firms.
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