The Hangzhou government announced the opening of Qiantang River Financial City on Saturday during the Silk Road International Alliance Forum.
The Hangzhou section of the Qiantang River will become a financial business belt according to Zhejiang Province's five-year plan (2016-2020) to promote economic transformation and industrial upgrade.
The provincial government plans to build a world-class financial center on the river, like those on Shanghai's Huangpu River and London's Thames River.
To meet that goal, Hangzhou is building the Qiantang River Financial Center and Xianghu Financial Town. A cluster of financial hubs will crop up along the river bank from Qianjiang New Town in the east to Fuyang District in the west. They will serve the needs of Belt and Road projects and the Yangtze River Belt Economic Development.
According to a strategic cooperation agreement between the Zhejiang provincial government and the International Finance Forum, the Silk Road International Alliance is permanently located in Xianghu Financial Town.