Southern Finance Omnimedia Corp held a groundbreaking ceremony for its headquarters, the Southern Finance Building in Guangzhou International Financial Town, Guangdong province on May 28.

It is the first of its kind to settle in the financial town and will help improve the city's financial service system, as well as enhance its cultural and financial soft power.

The corporation was founded in November 2016 and is the country's first omnimedia group approved by the central government. It is also a landmark project of the province's move towards media convergence.

SFC will focus on financial data services, promoting media convergence, as well as hosting high-end international financial forums with its resources and advantages, according to the media group's Party chief and chairman Ren Tianyang.

Priorities will be given to mobile business, data, technology, and its core businesses in media, data, transactions, and think tanks to realize sustainable development, Ren noted.

The group will also serve Guangzhou's plan of developing itself into a regional financial center and the Guangdong-Hong Kong-Macao Greater Bay Area's goal of growing into a world-class financial hub, he remarked, adding that the building will also become a cultural landmark and a host of regular international financial forums.

After the ceremony, the main construction of the project will start and the project is expected to be completed in 2022.

According to the planning, the building will have a floorage of more than 100,000 square meters. Its annex building will house an exhibition and trade center for artworks, multifunctional halls, a studio center, a cinema, and a media center.