China is banning new property sales in counties earmarked as part of a new special economic zone in Hebei province.
The proposed special economic zone is about 100 km southwest of Beijing.
The new special economic zone, dubbed the Xiongan New Area, was announced on Saturday and covers 100 square kilometres, with plans to extend it to 2,000 square kilometres.
China is hoping to mimic the rapid growth seen following the establishment of a similar zone in Shenzhen in 1980.
It is also part of a wider project to integrate the economies of Hebei, Tianjin and Beijing.
As it stated in
China launches new economic zone in Hebei to promote integration
SHANGHAI China will establish a new special economic zone in the heavily polluted province of Hebei in order to promote integration with the neighboring cities of Beijing and Tianjin, the government announced on Saturday.
China is currently implementing a plan aimed at integrating the economies of Hebei, Beijing and Tianjin, a heavily polluted region known as Jing-Jin-Ji.
The Xiongan New Area will be of the same national significance as the Shenzhen Special Economic Zone, which helped kickstart China’s economic reforms in 1980, the official Xinhua news agency said, citing a circular released by the Chinese cabinet.
The zone is located around 100 km (60 miles) southwest of Beijing, close to the Hebei provincial capital of Shijiazhuang, and will house some of Beijing’s relocated “non-capital functions”.
It is currently 100 square kilometers in area but will eventually be expanded to 2,000 square kilometers.
As it stated in
China to establish new economic zone near Beijing
China announced Saturday that it is going to establish a special economic area in a province neighboring Beijing as part of a plan to integrate the capital with its surrounding areas.
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.
The Xiongan New Area will eventually cover 2,000 square kilometers (772 square miles) and be located about 100 kilometers (60 miles) from downtown Beijing.
Since 2014, the government has planned to jointly develop Beijing, the port city of Tianjin and Hebei province to boost regional and economic development in the northern region, and bridge the economic disparity between the capital and the industrial and rural areas surrounding it.
The creation of the new area is a “major historic and strategic choice,” Xinhua said, citing a circular issued by the Communist Party’s central committee and China’s Cabinet.
collected by :Mathio Rix