Construction accelerated for intl finance island in Nansha

The design sketch of IFF's permanent site in Nansha. [Photo/gznsnews.com.cn]

Construction for the main structure of the permanent site of the International Finance Forum (IFF) in Guangzhou's Nansha district will start on Sept 9, while the pre-preparation for test piles and construction camps have been completed.

IFF, also known as Finance 20, is a non-profit and non-official independent international organization. Its permanent site in Nansha will cover an area of around 243,800 square meters and has an investment of 3.5 billion yuan ($504.33 million).

The total construction period is expected to last about 30 months, with the site scheduled to finish construction and start operation in October 2022.

Wang Liangjun, general manager of Nansha International Financial Island Co Ltd, noted that the permanent IFF site is a landmark project in the construction of the Guangdong-Hong Kong-Macao Greater Bay Area, adding that it will be built into a high-level center for international government affairs and business conferences, undertaking important international meetings held by Guangzhou, Guangdong province and the Greater Bay Area. 

Nansha will build China's first financial island on the basis of IFF's permanent site with an investment of more than 100 billion yuan, which will cover an overall area of 2.27 square kilometers and a building area of nearly 5.7 sq km.

"High-end financial resources, such as sovereign wealth funds, venture capital, scientific finance, financial information services, investment consulting, and academic research, will be introduced to the island, turning it into an industrial cluster for high-end finance with completed international facilities for residence, commerce, culture, as well as entertainment," added Wang.