Recently, the first phase of a village renovation project in Dazhe Lake Area, Wangcheng District, Changsha City, was granted a supporting loan of 10 million yuan by the Hunan Branch of China Development Bank. It is the first of its kind for village renovation projects in super-large and mega cities nationwide.

The project, with a planned investment of 7.544 billion yuan, will include nine projects construction such as a stadium, a dike, and two roads. Upon completion, it will completely improve the living and ecological environment of residents in the area; enhance the industrial pattern of the entire area; and, accelerate the formation of new industrial driving forces such as the new generation of information technology, life science and technology, and other industries, becoming a landmark project for the building of a modern city in Hunan Province.

The loan approval marked that Hunan has achieved substantial results in implementing the country's major strategic arrangements of "three major projects" construction, said a person in charge of the provincial housing and construction authority. Next, it will guide local authorities to carry out in-depth demand investigation, effectively strengthen the project reserves, and seek for more financing support. Meanwhile, the authority will speed up improving, issuing, and planning implementation programs and related supporting policies for the construction of government-subsidized housing and renovation for villages in cities; effectively advance projects implementation; and ensure early construction and operation of the projects.

This article is from the Hunan Provincial Government www.enghunan.gov.cn.

Translator: Yu Jiangjiang

Chinese source: hunan.gov.cn