The Beijing government plans to issue government bonds worth 6.7 billion yuan this year, and 4 billion yuan will fund the land expropriation for Beijing's new airport, which is to be built in Daxing District in the south of Beijing.
It is the second time the government has increased the funding for land expropriation and housing demolition this year. According to an early report, 23.8 billion yuan will be appropriated as land compensation fees for the new airport. However, another 1.5 billion yuan was added by the Beijing government for the airport eco-environmental construction in May 2015.
According to a document issued by the National Development and Reform Commission, the new airport will have a total investment of nearly 80 billion yuan, triple the investment of Beijing Capital International Airport (PEK)'s Terminal 3.
The airport, which is expected to open in 2009, is designed to handle 72 million passengers, 2 million tonnes of cargo and mail, and 620,000 aircraft movements annually by 2025. After the project is completed, the new Beijing airport will be the second largest airport in China following Beijing Capital International Airport.
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