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In July 1921 in the centre of Ulaanbaatar, the 'hero of the revolution', Damdin Sukhbaatar, declared Mongolia's final independence from the Chinese. The Square now bears his name and features a statue of him astride his horse. The words he apparently proclaimed at the time are engraved on the bottom of the statue: 'If we, the whole people, unite in our common effort and common will, there will be nothing in the world that we cannot achieve, that we will not have learnt or failed to do.

This large and famous square is the centre of Ulaanbaatar where the  Parliament, the Government House, Stock Exchange, Chinggis Memorial Monument and many other important establishments are concentrated there. There is Center Point of Ulaanbaatar city /a./ on the square.  And there are some special monuments related Ulaanbaatar city’s history around the square.

Ancient sudras and other old manuscripts. State Central Library was founded in 1924. Funds of the library include valuable editions of books, which represent cultural heritage of Mongolians. These include the complete manuscript copy of Kanjir, collections of books "Mongolica" and the "Secret History of Mongols" written in 1240, as well as "Altan tobci"(Golden Annals) the only copy of Mongolian historical chronicles compiled in XYIII century.