Straits Construction and Investment Ltd and five major banks in China – China Construction Bank, Bank of China, Industrial and Commercial Bank of China, China CITIC Bank and Shanghai Pudong Development Bank – held a contract signing ceremony on Jan 9 to co-build a "Smart Central Business District" in the Pingtan Comprehensive Pilot Zone, Pingtan Times reported.

With its distinct advantages in Taiwan resources and favorable policies from the pilot zone, Straits Construction and Investment Ltd continues to promote cooperation between 10 key financial institutions in Taiwan and the Chinese mainland.

The company was co-established by famous financial companies across the Straits, including Shimao Group, Taiwan Far Glory Group, Teco Group and Henderson Land Development Company from Hong Kong.

The business district will be located in Ruyi Real Estate Town in Pingtan. It will include six office-building clusters for 5A office buildings and a 30,000-square-meter exhibition center for tax-free O2O (online to offline) shopping.

As a platform for entering the Taiwan market, Pingtan will develop into a headquarter base for many competitive companies, according to Wang Zhenguo, assistant executive director of Straits Construction and Investment Ltd.

Edited by Chen Zhilin and Michael Thai