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Economy

Xiongan New Area -- Questions over tried and tested formula

Market reaction bodes ill for China's new economic zone

| China
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A woman rides on a motorized tricycle on a main road in Xiongxian County, part of the new special economic zone, Xiongan New Area, on April 6.   © Reuters

China's new special economic zone, to be developed in Hebei Province, is widely expected to become a "success," inasmuch as it will likely attract many high-profile domestic companies and government organs. Whether it can become a driving force to spread economic reform across the country, however, is a very different matter.

The Central Committee of the Communist Party of China and the Chinese State Council suddenly announced in a joint notice on April 1 that a new district called the Xiongan New Area would be created in the northeastern province.  

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