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Analysts divided on Xiongan while investors cheer

Some say Beijing's new economic zone will have limited impact on national growth

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Government building in Xiongxian county, part of the new special economic zone, Xiongan New Area in Hebei province   © Reuters

HONG KONG -- Despite surging stock prices, analysts are divided about China's latest grand plan to develop a special economic zone in Hebei province near Beijing, with some saying that Xiongan will still play second fiddle to Pudong and Shenzhen.

Beijing announced over the weekend that it plans to build an up-to-2,000 sq. km economic zone in Hebei's Xiongan district in a project that will be personally overseen by President Xi Jinping.

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