The 10th Beijing CBD international business festival is kicking off on Monday. Seven expansion plans for the well known central business district were announced at the opening ceremony.

The Beijing CBD concept was introduced in 2000. After nearly 10 years of construction, the city has built the area's core out to 3.99 square kilometers. The expansion project will be launched by the end of this year.

Construction will take place on an additional 3 square kilometers of land to the east of the current CBD. The project is expected to involve an investment of nearly 100 billion yuan, and create 150 thousand job opportunities.