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Rendering of the antique-style town to be established by Beijing-based WGHT Group in Wangjiangjing town, Jiaxing. [Photo/WeChat account: jxfabu]

An antique-style town will be established in Wangjiangjing town in Jiaxing, East China's Zhejiang province, Jiaxing Daily reported on July 2.

The news was released at a signing ceremony between WGHT Group, a Beijing-based company dedicated to investing, constructing and operating tourism towns, and Wangjiangjing.

WGHT Group plans to invest 10.6 billion yuan ($1.5 billion) to establish the Wenchuan Antique-style Town, as Wangjiangjing was known as Wenchuan in ancient times.

The town will be constructed in accordance with the standards of 5A scenic spots, the highest scenic spot classification in China, and it will become not only a recreational center for local residents, but also a tourism distribution center.

The group will make full use of local Great Canal culture and the area's abundant wetlands and rich folk culture by offering folk culture performances, themed entertainment, and wetland sightseeing opportunities.

Construction on the town is expected to start at the beginning of 2021.

WGHT Group boasts 20 years of experience in constructing and managing tourism towns and has built 13 famous antique-style towns in China. In 2019, the tourism towns managed by WGHT received more than 58.6 million tourists.