Businessman to build $39 billion smart city
Yan Jiehe, one of China’s wealthiest businessmen, said he plans to spend 250 billion yuan ($39 billion) to build a firstclass smart city in South China’s Guangdong province.
According to South China Morning Post (SCMP), the city will host a population of 250,000 with its primary focus on education and the medical sector.
“It will beat any other smart city in the world,” said Yan, 55, founder of China Pacific Construction Group. Yan and his son were listed as the sixth-richest people in the Chinese mainland by the latest Hurun report, with a fortune estimated at 91 billion yuan.
“There will be no overpasses nor traffic lights in the city and people have to use tunnels to cross a river to preserve the natural landscape,” Yan said. He said only “rich people” will be welcome to settle in the city. “My definition of being rich is not only having financial strength but also being well educated and noble-minded,” he said in a SCMP report. “I don’t sell properties to those who get rich overnight and appear to be uncivilized.”