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New City in China to Be Three Times Larger Than New York

Local media recently announced that China is building a city that will be triple the size of New York City.

The Communist Party announced its plans for Xiongan New Area, which spans three counties and is approximately 60 miles south of Beijing.

Potential investors have traveled to the site in droves, with many properties already being sold despite the fact that construction has yet to begin. Local property prices are said to have doubled after the announcement: according to Bloomberg, people were camped outside the offices of property agents.

The central committee and state council released a statement describing the new economic zone as a strategy that was crucial for the future. A promotional video promised that the city would be three times the size of New York, whose current population is nearly 20 million. Shanghai, China’s largest city, has over 24 million inhabitants.

Authorities have expressed hope that the new city will relieve the demands made on Beijing, which has 22 million inhabitants and experiences some of the worst urban sprawl and pollution in the world. Xiongan New Area is expected to host some of its essential services, freeing the city even more.

 

President Xi discussed the project while touring Hebei. He said that priority should be given to developing an area that supports noncapital functions that will be moved over from Beijing. He called for a modern urban district to be built at an appropriate location in Hebei, according to modern development concepts.

State-sponsored news agency Xinhua reported that Xiongan will help combat the perpetual pollution that hinders the area’s economic potential and presents a risk to public health. Local ecology protection will be emphasised, as the authority does not want to continue the outdated policy of creating pollution first and treating it later. The resulting environment will be safer and cleaner for people.

Analyst Howard Lau at Hong Kong-based Jefferies Group said that the collaborative creation of the three regions is intended to deal with problems like traffic congestion and overpopulation in Beijing.  He added that the transformation and relocation of industries could boost property investment and infrastructure in the area.

Structural Defects Insurance

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