China invests 1.05b into construction of Xiongan New Area

BEIJING -- China's top economic planner has allocated 1.05 billion yuan (about $148.6 million) to support the high-quality development of the Xiongan New Area.

The fund will be invested into major projects related to sanitation, infrastructure construction and ecological protection in the area, according to the National Development and Reform Commission (NDRC).

To implement regular epidemic prevention and control measures, priority will be given to the building of sanitation facilities, such as dismantling center for bulky waste, which helps improve the hygienic conditions of the area, said the NDRC.

The investment will be made to prop up infrastructure construction projects concerning transport and gas, while roads and water facilities for designated schools and hospitals will be supported.

The fund will also assist the construction of roads and parking lots in the Xiongan high-speed railway station, as well as financing the construction of the ecological embankment of the Baiyangdian Lake.

China announced plans to establish the Xiongan New Area on April 1, 2017, to take over Beijing's functions nonessential to its role as the national capital. Xiongan's city proper will be a new home for Beijing's colleges, hospitals, business headquarters and financial and public institutions.