The municipal government of Hangzhou, a picturesque city in east China's Zhejiang Province, is to build a modern town on the northern bank of the Qiantang River, Vice-Mayor Sheng Jifang said recently.

By 2010 the new town, which will cover 15 sq.km. will become the new city proper and the political, economic, cultural and technological center of Hangzhou. It will consist of new government buildings, exhibition centers, theaters, a women's center, and a music square as well as high-rise buildings.

The Bank of Communications will provide the first loan of 500 million yuan (US$60 million) for the project and has promised to offer a variety of financial services.

Hangzhou, with its limpid rivers and lakes, scenic mountains, lush-green forests, and elegant springs has a similar natural environment to Geneva, a unique, beautiful Swiss city where many international organizations are headquartered.

(China Daily May 9, 2002)