A regional financial services center is under construction in Xiamen, Fujian province.

As planned, the 21-square-kilometer center in the northeast of the city, involving a total investment of 30 billion yuan ($4.8 billion), will be a physical platform for experiments and reforms, forming a crucial part of the new national strategy.

In 2010, the State Council officially approved the establishment of a financial service center in the city.

"It is an important mission for the city to become a financial hub in the western region of the Taiwan Straits, deepening financial sector cooperation between the mainland and Taiwan," said Xiamen Party Secretary Yu Weiguo.

By the end of July, the center had attracted 72 investors, and another 252 are in negotiations.

Key projects still under construction include Xiamen Haixi Jingu Square, the most upscale financial complex in Fujian province, which will cover an area of 430,000 square meters and focus on wealth management and the financial market.