THE renovation of the Xinqiaodong area in Xinqiao Subdistrict has picked up pace following the completion of preliminary preparations and compensation for relocation, the Bao’an Daily reported.

As a key urban renovation project in Shenzhen, it has shifted from the preparatory period to a new stage, initiating the demolition of buildings for the first phase.

The project, located in the north of the Shenzhen section of the Guangzhou-Shenzhen Science and Technology Innovation Corridor, covers a total land area of 2.31 million square meters. The total area of demolished buildings is about 1.55 million square meters.

After the completion of the project, the Xinqiaodong area will be turned into a new industrial park with improved environment and supporting facilities. The project aims to lure large enterprises to settle down, creates job opportunities, and generates more economic and social benefits.

(Zhou Ting)