Economic zone free of skyscrapers
Print Edition
THE leading local Communist Party official has said China will ban large-scale property development, including towering skyscrapers, in an ambitious new economic zone near Beijing.
“Every inch of land” in the Xiongan New Area will be carefully and deliberately planned, said Zhao Kezhi, Party chief of Hebei Province, where Xiongan is located.
The zone, around 100km southwest of Beijing, will house some of the capital’s relocated “non-capital functions,” although work appears to be in the planning stages.
News last month of the scheme to set up the zone — to be modelled on the Shenzhen Special Economic Zone that helped kickstart China’s economic reforms in 1980 — sent land prices soaring.
Zhao said Xiongan will not engage in “land finance,” referring to the practice of local governments’ reliance on revenue from selling land to developers for funding, and will effectively manage land prices, home prices and rents.
Policy-makers are also stressing green development in Xiongan, which Zhao reinforced by saying there would be no “high-rises, concrete jungles or glass curtains.”
“We must further free our minds and strive to draw the most beautiful picture on a piece of blank paper,” Zhao said.
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