China is establishing a new special economic zone in Hebei, a northern province that has been hit by massive job layoffs, in an effort to boost domestic growth.
China has a long history of establishing special economic zones — with varying degrees of success.
Another goal with the Hebei zone is to help alleviate urban issues in Beijing, according to state media.
Established in 1980, the Shenzhen special economic zone helped jumpstart reforms and turned the fishing village into today’s manufacturing and high-tech center, while the Pudong area in Shanghai is now a major financial center.
The Xiongan New Area, about 100 kilometers from Beijing, will house “non-capital functions” moved from the capital city.
As it stated in
China to create new special economic zone outside Beijing
Plans are also in the works to move municipal government infrastructure out of central Beijing to suburbs in the east.
Located between Beijing, the port city of Tianjin and Shijiazhuang, Hebei’s provincial capital, the zone would eventually be expanded to 2,000 square kilometres, it said.
The Xiongan New Area, located some 100 kilometres southwest of downtown Beijing in Hebei province, will rival south China’s Shenzhen Special Economic Zone, established in the 1980s, and Shanghai’s Pudong New Area, set up in the 1990s.
It is the latest step in China’s efforts to reduce traffic, air pollution, and population growth in overcrowded, smoggy Beijing.
Other recent measures to curb runaway growth in the capital have included the shuttering or relocation of factories and wholesale markets to neighbouring regions.
As it stated in
Xiongan is China’s new special economic zone, East Asia News & Top Stories
To curb such activities, China is banning new property sales in the counties that form the new special economic zone.
The Xiongan New Area will be of the same national significance as the Shenzhen Special Economic Zone, which helped kick-start China’s economic reforms in 1980, the official Xinhua news agency said, citing a circular released by the Chinese Cabinet.
The new special economic zone is located around 100km south-west of Beijing, close to the Hebei provincial capital of Shijiazhuang, and will house some of Beijing’s relocated “non-capital functions”.
BEIJING • China will establish a new special economic zone in the heavily polluted province of Hebei to promote integration with the neighbouring cities of Beijing and Tianjin, the government has announced.
Xiongan New Area aims to rival the two special economic zones in Shenzhen and Pudong in southern China founded by Mr Xi’s predecessors Deng Xiaoping and Jiang Zemin.
collected by :Mathio Rix