London's third financial district, a business park aimed at Chinese and Asian companies, will be developed by a Chinese company in East London.

China's Advanced Business Park signed the 1 billion pound ($1.51 billion) deal with London Mayor Boris Johnson on Wednesday to develop a 14-hectare complex of offices and shops at the 130-year-old Royal Albert Dock, near London City Airport.

It's the largest commercial real estate project in Britain that Chinese companies have invested in so far.