Investment planned to develop Beijing's southern area

Beijing plans to invest 590 billion yuan ($91.3 billion) from 2021 to 2025 to develop the city's southern area. The plan involves about 260 major projects, a senior official of the capital said recently. 

Li Sufang, deputy director of the Beijing Municipal Development and Reform Commission, said at a news conference on Thursday that the fourth round of the action plan of the southern Beijing's development will focus on high-quality development aimed at promoting the area as a new driver of economic growth in the capital.

It will be carried out over the next five years with projects concerning cultural, business and ecological projects, she said. 

According to Li, major cultural service facilities will be built in the southern part of the city, including clusters of museums and the art center of the National Ballet of China. It will also allow room for ecological advancement and future adjustment. 

Over the past 10 years, GDP in the city's southern area grew from 229.6 billion yuan to 559.2 billion yuan, according to official data.

According to the plan, the city's southern area aims to build another four 100-billion-yuan industrial clusters, covering the sectors of biotechnology and health, a new generation and innovative use of information technology, robotics and high-end equipment, Li said.

Zhou Xinchun, deputy governor of the Fengtai district in southern Beijing, said the Lize area, which focuses on the financial industry will develop fast in the next five years. 

"The transportation and power supply in the district will both step into a better stage," he said.

New schools and hospitals will also be built in the southern area of the city. 

In addition, Beijing also plans to support the southern districts in creating more than 10,000 hectares of green spaces in the next five years through the renovation and construction of major wetlands and forest parks, as part of its effort to become a national forest city.