Movsisian Vahagn had a fair idea of what the Financial Street in west Beijing would be like. But the Armenian ambassador was not prepared for what he saw yesterday.
"I am highly impressed by the economic growth here," Vahagn said after seeing the skyline. "it's an indication of how much progress China has made. There are many lessons for us to learn from here. I will come here often."
Vahagn was one of the senior diplomats, including ambassadors and counselors of more than 30 countries and the EU, invited by the municipal government to visit the Financial Street.
The street boasts buildings and skyscrapers that are home to more than 1,500 financial institutions and enterprises representing over 70 percent of the country's financial assets.
Situated here are headquarters of top Chinese financial institutions such as the Bank of China and the Industrial and Commercial Bank of China, State-owned industrial conglomerates, as well as the financial industry's watchdogs.
Wu Xiangyang is director of the development and reform commission of Xicheng District. He said "The Financial Street controls 33-trillion-yuan ($4.47 trillion) worth of financial assets, and almost all of China's financial policies are made here."
Among the more than 30 financial institutions here will be Goldman Sachs, JP Morgan Chase and Swiss Bank.
"After 15 years of efforts, the financial street blueprint is nearly finished," said Wu. "This year, we introduced top luxury hotels, shopping malls, and conference centers to make it a financial ecological circle." Its area will be extended from the current 1.03 sq km to 2.59 sq km in the future, Wu said.
Huo Xuewen is director of the municipal government's Financial Office. He said "The Financial Street is China's Wall Street under construction. We sincerely welcome friends from across the world to join us in developing it."
Simeon Hernandez, the Philippines' commercial counselor to Beijing, said it's a pity no company from his country is investing here. "I'll definitely convey this to the Philippine business community," he said.
Questions:
1.Movsisian Vahagn is an ambassador from which Eastern European country?
2.How many financial institutions and enterprises have offices on Beijing’s Wall Street?
3.How much yuan does Financial Street control in terms of financial assets?
4.Wu said Financial Street’s area will be extended from the current 1.03 sq km to how many sq km in the future?
Answers:
1.Armenia.
2.1,500.
3.33 trillion yuan.
4. 2.59 sq km.
（英语点津 Celene 编辑）
About the broadcaster:
Jonathan Stewart is a media and journalism expert from the United States with four years of experience as a writer and instructor. He accepted a foreign expert position with chinadaily.com.cn in June 2007 following the completion of his Master of Arts degree in International Relations and Comparative Politics.
