BEIJING (Reuters) - Beijing is to relocate several thousand more households to quadruple the central Financial Street district, home to many banks and insurers, state media said on Wednesday.
The district is to grow from the current 1.18 square km (290 acres) to 4.77 sq km, the Beijing News said.
Beijing is undergoing a massive redevelopment, with old districts being razed to make way for venues for the Beijing Olympics in August. Around 1.5 million residents will be displaced by the time the Games begin, many evicted against their will, a rights group said last year, prompting a sharp denial by China.
The areas involved in the Financial Street district, a few kilometers west of Tiananmen Square, were “established residential communities”, increasing the difficulty of the relocation project, the newspaper quoted an official with the Financial Street Expansion Office as saying.
“The official said there was no timetable for the project yet. Those to be relocated will be offered larger housing if they agree to move beyond the Third Ring Road, one of the major loop highways in the heartland of Beijing,” Xinhua news agency said.
Reporting by Nick Macfie; Editing by Alex Richardson