The Yinchuan Municipal Government will establish a special fund to support the development of Yuehai Bay Central Business District (CBD) this year, according to a themed conference in the city of Yinchuan, Ningxia Hui Autonomous Region, on March 19.
The government will allocate 250 million yuan of initial capital to invest on stock right, finance lease, loan interest, talent attraction and infrastructure construction at the CBD in 2015. The annual tax receipts of the CBD will then be injected into the fund from this year. The fund volume is expected to reach 500 million yuan in 2017 and 2 billion yuan in 2020, according to the conference.
To realize the development of an ecological CBD and a China-Arab States Economic and Trade Area, the Yuehai Bay CBD is expected to make breakthroughs in headquarters economy, financing and other modern services this year through making full use of the opportunities in the Belt and Road initiative construction, the conference pointed out.
