China Announces Plans to Build a Massive New Future CIty
- Author: Darren Santiago Apr 08, 2017,
Apr 08, 2017, 7:26
The decisions to build Xiongan and a "subsidiary city center" for Beijing are strategic moves in advancing the coordinated development of the Beijing-Tianjin-Hebei region, Zhang said, quoting President Xi Jinping.
The state news agency Xinhua reported that the plans are meant to advance the development of the Beijing-Tianjin-Hebei region and will be expanded to cover an area of 2,000 km in the long term - almost three times the area covered by New York City.
On April 1, China announced it would build Xiongan New Area, a sprawling economic zone about 100 kilometers southwest of Beijing. The new economic zone will ultimately encompass an area over 400 square miles greater than New York City.
It is estimated that these newly developed areas are large enough to house as many as 3.4 billion people, or almost half of the world's population.
Beijing will focus on its "capital functions", serving as the country's political center, cultural center, and center for global exchanges and science and technological innovation, according to previous plans.
Wang Huisheng, chairman of SDIC, said the company would utilize its expertise in investment orientation, structural adjustment and asset management to help develop the Xiongan New Area. The new area is not deeply developed so the construction of the infrastructure can start at a higher level.
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An aerial view of Xiongxian county, part of the planned Xiongan New Area, in Hebei province.
A long-term and stable funding mechanism will be put in place, and private funds will be encouraged to participate in building the new area, He added.
"We'll also give support to major transportation, ecology, water conservation, energy and public service projects in the new area", he said.
The government says the Xiongan New Area in Hebei province will have national significance like the Shenzhen Special Economic Zone, China's first free-market economic zone set up in 1980 as the country was beginning economic reforms, the official Xinhua News Agency reported.
But such functions, when integrated into the development of the Beijing-Tianjin-Hebei region, will likely result in an overall better economic structure, cleaner environment and improved public services and, hence, are "crucial for the millennium to come".