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"Other facilities like banks, hotels will be built around this place," Mnangagwa said, adding that a "modern, smart city" was planned.
Mnangagwa took over from long-time ruler Robert Mugabe, who was ousted by the military in November 2017.
He has vowed to revive Zimbabwe's economy that has been in ruins for nearly two decades.
China has funded and provided loans for many infrastructure projects across Africa in recent years, ranging from roads and power plants to sports stadiums and government institutions.
Critics say China's increasing sway over the continent undermines democracy and sovereignty.