The Guangzhou Economy and Technology Development District will become a new central business district (CBD) of the city, real estate experts said.

The district, located in the eastern suburbs of Guangzhou, is being built into an economic-centered town, where all new construction projects will be finished within three years.

The new district is expected to combine different facilities related to commerce, leisure, entertainment and high technology.

"The most important thing is that the district has recognized that it must upgrade its industrial mode," said Li Xuxing, general manager of the Guangzhou-based Finelind Property Consultant Ltd. The company is in charge of providing professional ideas about property and real estate management and introducing property developers to the district.

In the past, the labor-intensive economic mode has hurt the district's sustainable development. The district was also a hub of manufacturing factories before. But it became aware of the dangers of maintaining itself as a manufacturing base a long time ago, Li said.

"It is making great efforts to change the situation, and the construction of the new town is a result of the effort," Li said.

More than 100 of the Fortune 500 companies have set up branches in the district. Li said he is happy to see that the district is marching toward becoming a high-tech hub.

As it is located in the suburbs and surrounded by many undeveloped rural areas, the district has to be faced with how to enlarge their area and solve disputes with local rural residents.

Li said the problem of urban villages, which as also messy, is apparent in Guangzhou's downtown area and due to improper urban planning long ago.

"The district is doing a good job in this respect," Li said.

It does not only upgrade its surrounding rural areas, but it also provides numerous working opportunities for local rural residents.

"The procedure of selling land is very smooth," Li said.

But the district also has some weaknesses, such as its former administrative officials not adequately planning the underground land resources.

"Once the above-ground land resources are used up, they will encounter difficulties," Li said.

"Moreover, the district's publicity effort is not enough," Li added, adding that the district should make the world know Guangzhou has such an important CBD.

Right now, he said, people only know of Tianhe district and Pearl River New Town.

Editor: Yan