Chinese firm to develop London financial district

London has tapped a Chinese developer to build the city’s third planned financial district, Reuters reported. Advanced Business Park (ABP) will work with the UK’s Stanhope to turn what is now a 35-acre industrial site at Royal Albert Dock near London’s City Airport into a 3.2-million square-foot mixed zone development by 2021 or 2022. The park will target Chinese and Asian firms looking to set up a satellite offices in Europe. London is hoping to repeat the success of the 97-acre Canary Wharf financial district, where skyscrapers built on the city’s docks in the 1990s now house investment banks.