Thursday Xiongan development will not be ‘kidnapped’

China is seeking a new path for urban development through Xiongan New Area, a policy adviser said, stressing that development of the new economic zone will not be “kidnapped” by property developers.

Xu Kuangdi, director of a council of experts for coordinated development of the Beijing-Tianjin-Hebei (Jing-Jin-Ji) region, made the remarks at a forum on urban development in Beijing.

China announced plans to establish Xiongan New Area in April as part of measures to integrate Jing-Jin-Ji development and cure “urban ills” such as traffic congestion and air pollution in the capital.

The move has since driven a speculation frenzy in the property market in the area, which prompted policymakers to put in place strict controls on real estate development in Xiongan New Area.

‘6/18’ online shopping event

Online marketplaces in China are preparing for “6/18”, the midyear online shopping event that e-commerce platform JD.com first launched in 2010 to celebrate the company’s anniversary on June 18. It joins the Singles’ Day sale on Nov 11 and has become one of China’s largest online shopping sprees.

JD.com will use technology such as augmented reality and virtual reality to offer interactive shopping experiences and will also employ robots, driverless cars and drones for deliveries.

Almost all Chinese e-commerce platforms are developing a “new retail” model, which not only features online and offline (o2o) retail, but also one-stop and streamlined service from shopping to payment and delivery.

China is the world’s largest online shopping market, with about 467 million online consumers spending about $3.83 trillion last year, up 19.8 percent year on year. (Photo 5)