Earlier we talked with Liu Zhiqin, a senior research fellow from the Chongyang Institute of Financial Studies at Renmin University here in Beijing. He shared his views on how this new area would benefit China's economy going forward. Listen.

LIU ZHIQIN SENIOR RESEARCH FELLOW, RENMIN UNIVERSITY "This area is very special, have a special meaning to the whole nation not only because it is directly under the leadership of the CPC Central Committee and the State Council, because it has not only economic meaning but also political and ecological meaning. My personal view will say that this area will be a demonstration for our new community. I call it the first step of communism society.

The development in the new era should be well coordinated well balanced, the first focus is to eliminate the gap between rich and poor. Xiong'an New Area will be further focus on this issue. The second is ecological development we should develop this area in the shared future this is very important for our country in the next 20 years which model should be followed."