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.