China's New $290 Billion Dollar City
According to this Bloomberg article, China has plans to construct a new city 2 hours outside of Beijing; in hopes of capping the population at 23 million. According to Morgan Stanley, more than $290 Billion will be invested in this project.
China’s plan to build a new city about two hours drive from Beijing has raised hopes it may catalyze better urban design across the nation, enhancing economic efficiency and cutting air pollution.
Xiongan New Area, announced April 1, has been lauded by state media as a demonstration project for a new model of optimized development in densely-populated areas. It’s also intended to ease the pressure on Beijing, the capital city that plans to cap its population at 23 million by 2020. Morgan Stanley expects the investment in infrastructure and relocation to run about 2 trillion yuan ($290 billion) in the first 15 years.
If you had the opportunity, would you invest in this?
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