China Creates USD345 Million Fund to Build Up Xiong’an New Area

DOU SHICONG

(Yicai Global) May 21 — China’s central government has set up a fund worth CNY2.45 billion (USD345 million) for construction in the Xiong’an New Area near Beijing.

The money will go toward sanitation facilities to protect against Covid-19 and roads to connect the central area with the high-speed rail station in Xiong’an, the National Development and Reform Commission said today.

Established in 2017, Xiong’an New Area is located in Baoding, Hebei province, about 100 kilometers from Beijing. It is intended to draw in residents and non-core industries from the capital.

Editor: James Boynton