Beijing's business hub takes on new image
According to research by retail information outlet Linkshop, major CBD retail properties－including the three phases of the China World Trade Center and the Beijing Yintai Center－reported total revenue of 9 billion yuan last year, with the former contributing 7.9 billion yuan.
After the fourth phase of the China World Trade Center is completed, annual revenue is forecast to top 10 billion yuan. The fourth phase involves turning the former landmark Hotel Jen Beijing into a retail property.
Zhong Rongming, general manager of China World Trade Center, said the company needs to maintain its vigor and vitality by following the latest trends, while choosing a suitable path for its "unique identity".
The new Hotel Jen Beijing features fusion restaurants, pubs and a top-level gym to meet demand from office workers and young travelers, Zhong said.
Some shop owners feel that as the area's target customer base has shifted toward younger, middle-income consumers who want diversified experiences, it has become an ideal location for business.
Lifestyle-focused SpaceCycle is the first fitness facility to move into the China World Trade Center.
"Different from the China World Trade Center of one or two decades ago, we've observed that the business models and the community here are becoming younger and more fashionable," the company said.
"They are dynamic, well-educated, excellent in their professions, and crave a quality life. Since the area is already equipped with premium infrastructure, including restaurants, shops, hotels and entertainment facilities, as well as consumers that meet our demographics, this area is a perfect location for our business."
