Today's Coming Crisis Movie

Monday, August 27, 2012

Another RMB100 Billion "Ghost Town"?

Recently, the city government of Kaifeng in Henan province
presented a restoration project costing over 100 billion Yuan.
The project plans to transform its old town
into a 20-square-kilometer tourism zone.
This is to restore the historical outlook of "Bianjing" city,
the capital of Northern Song Dynasty.
For the past two years, foreign media have reported that

many Chinese cities where buildings are newly developed
are seldom used so that they look like "ghost towns".
Similarly, Kaifeng's project has been speculated
to produce the next "ghost town".
Another unrealistic project of city building.

Kaifeng's project of "restoration of Bianjing outlook"

aims to develop tourism with the city's historical background
as the capital of the Song Dynasty.
However, according to media reports, just the demolition
fee of this "restoration" project will cost as much as 100 billion.
More than 80,000 residents of old town will be forced
to move. Read More