Shantytown reconstruction to benefit 3,800 households in Pingyao

A shantytown reconstruction project, the largest of its kind in the history of Pingyao county, was launched on Sept 30, expecting to benefit more than 3,800 local households.

The project covers six areas and involves demolition and relocation of 3,805 households with the demolition area reaching nearly 40 hectares, half of the county’s shantytown reconstruction.

With an investment of 2.96 billion yuan ($448.80 million), the project will adopt monetized resettlement to allow residents to move into new houses as soon as possible and satisfy their various needs. Pingyao has cooperated with China Development Bank and Agricultural Development Bank of China in enacting a series of plans for the shantytown reconstruction project.

For instance, residents who support shantytown reconstruction and move within the time limit will receive a certain percentage of rewards.

Currently, 157 local households have been removed and more than 400 households have agreed on the letter of intent for the movement.