Pingshan New Area has been chosen to pilot a "smart city" project launched by the Ministry of Housing and Urban-Rural Development, the Pingshan government said on the sidelines of its annual work meeting yesterday.

The project includes 90 regions across China in its first phase and is expected to bring new investment to industries developing Internet of Things, cloud computing and other urban management trends.

China Development Bank has promised to provide these regions with low-interest loans totaling 80 billion yuan (US$13 billion) for "smart city" construction in the next three to five years.

Pingshan New Area is the only Shenzhen location chosen as one of the 90 initial regions to pilot the project. Five other regions in Guangdong Province have been chosen, including the city of Zhuhai, the Panyu and Luogang districts in Guangzhou, and Shunde District and Lecong Township in the city of Foshan. Chaoyang District in Beijing and Pudong New Area in Shanghai also are on the list.

The news is already boosting confidence in Pingshan's development. Yesterday, talks of possible housing price hikes in Pingshan, where housing prices remain much lower than in central Shenzhen, appeared on several real estate forums.

Pingshan, which has been designated as a "new growth pole" of Shenzhen, grew at a rate of 15.2 percent in 2012. The new area is rapidly improving its infrastructure and attracting investments to catch up with the more prosperous areas of Shenzhen.

The new area's government will try to complete the main construction of Danzi Road West and start building Nanping Expressway Phase III and Pingyan Expressway this year, said Yang Xusong, Party chief of Pingshan New Area. Yang promised to build more hospitals, hotels, shopping malls and cultural centers in the new area.
(Source:Shenzhen Daily)