Posted on Beijing Bulletin- Sunday 7th May,2017
Author: Not available
Chinese Vice Premier Zhang Gaoli said there was a need for ‘steady’ planning
The ambitious new economic zone will focus on technology and innovation
China’s new Xiongan economic zone will eventually cover an area nearly three times that of New York
BEIJING, China – China has said that the establishment of the Xiongan New Area in Hebei Province would require «steady» planning.
The country’s ambitious new economic zone, has been touted as a driver of growth in northern China by the government.
The zone, in Hebei province’s Xiongan around 100 km (60 miles) southwest of Beijing, similar to those established in Shenzhen and Shanghai.
The New Area will reportedly be about 100 km southwest of downtown Beijing.
It will cover around 100 square km initially and will be expanded to 200 square km in mid-term and about 2,000 square km in the long-term.
It will span three counties including, Beijing, Tianjin and Hebei’s provincial capital Shijiazhuang.
Officials sources reportedly stated that the Xiongan New Area “will eventually cover an area nearly three times that of New York.”
China has also said that the newly approved economic zone will focus on high-tech and innovative businesses.
Last month it was announced that to set up the zone that would be modeled on the Shenzhen Special Economic Zone that helped kickstart China’s economic reforms in 1980 sent land prices soaring and prompted government warnings against speculation.
During a visit to the Xiongan New Area on Saturday, Zhang said the government should «plan well before taking action and make steady efforts in planning construction.”
Zhang stressed “tight control of land, property development and neighbouring regions as well as protecting historical and cultural heritage and the ecological environment.”
The Communist Party of China (CPC) Central Committee and the State Council has previously said that the new area will also be of national significance, like the Shenzhen Special Economic Zone and the Shanghai Pudong New Area.