Full coverage: China’s Leaders

(Source: CGTN)

China Saturday announced plans to create Xiongan New Area, a new economic zone to be built near Beijing, which authorities described as a "major historic and strategic choice". Chinese Vice Premier Zhang Gaoli has urged strict control on massive property development in the area on Thursday.

At a conference on promoting coordinated development of the Beijing-Tianjin-Hebei region, Zhang called for a "reasonable pace of development" of the area, saying large-scale real estate development and illegal construction should be banned. He demanded measures to control housing prices, planning and population in regions around the new area. He also asked for guards against speculation in the land and property markets, as well as controlling industries seeking to establish a presence there.

He stressed that Xiong'an should be "a green, liveable modern urban area, a region led by innovation-driven development, a demonstration area of balanced development and a pioneering region of open development."