Pingyao, a well-known ancient city in north China's Shanxi province, has received loans of 1 billion yuan (US$121.2 million) from the China Agricultural Bank for protection and for the building of new communities.
The city with a history of over 2,000 years has well-preserved ancient city walls, dwellings, government offices, and stores of the Ming (1368-1644) and Qing (1644-1911) dynasties.
Since it was put on the World Cultural Heritage list in 1997, Pingyao has become a popular destination for both Chinese and overseas tourists.
To restore the original look of the ancient city, the local government decided to relocate residents in the downtown area to new communities outside last year.
(Xinhua News Agency January 4, 2003)
