Xiongan project's funding plan may be national model

Innovative finance policy in new area could help stabilize property market

An innovative fundraising model for construction projects in China's Xiongan New Area and the creative property policies being discussed for the area could become national benchmarks as the country explores a long-term mechanism to stabilize the property market, according to a senior executive of one of China's largest construction contractors.

The new model - integrating investment, construction, operation and fund management - was jointly launched last year by China State Construction Engineering Corporation Ltd (CSCEC) and China Xiongan Construction and Investment Group Co Ltd to build the Citizen Service Center in North China's Hebei province.