Hangzhou, capital of East China's Zhejiang province announced on July 16 that it would invest a total of 100 billion yuan ($14.98 billion) in the construction of Zhijiang new town, with a five-year action plan being released for the building of the town.

According to the plan (2018-2022), the town's construction will revolve around the improvement of supporting infrastructure in the area, including rail links, road networks, pipe networks and other facilities related to people's living standards, amid efforts to improve the living environment of the residents in the area.

The plan indicates that Zhijiang new town, which covers an area of 156 square kilometers, will focus on the integration of industrial and urban development.

A total of 150 industrial projects in the fields of tourism, culture and the digital economy are expected to be stationed in the town by 2020.

It is hoped that the new town will give a boost to the development of key industries in the area and the local economy.

A news conference announcing the construction of Zhijiang new town is held in Hangzhou, capital of East China's Zhejiang province, on July 16. [Photo/zjol.com.cn]