Ambitious vision for Beijing

Beijing's New Shougang Area, once the location of China's largest steel enterprise, will invest 4.9 billion yuan ($695 million) in four cultural projects, the municipal Development and Reform Commission announced on Tuesday.

Combining industrial heritage protection with regional planning, the New Shougang Area will launch four cultural projects from this year to 2022. They will integrate transportation networks in the surrounding area, renovating industrial sites of historical value, improving landscaping and greening, building skyways and setting up a film and cultural innovation park.

The city plans to build New Shougang Area into a cultural landmark, according to the commission.

The transportation integration and industrial heritage innovation project will occupy 79,000 square meters, including a digital innovation park and supporting facilities for the 2022 Winter Olympics.

Renovations of the heritage park's three furnaces, the square at the east gate and two lake areas have already been completed.

The transportation integration project and theater refitting are underway. A slate of supporting facilities for the Winter Olympics, such as Winter Olympics Square and the National Winter Training Center, are ramping up construction.

Under a three-year plan for New Shougang Area, the renovation on the iconic blast furnaces of the old steel plant is set to be complete by the end of next year.The skyways and industrial and cultural spaces are scheduled for completion by 2022.