Xinyang minggang, Henan province

Minggang, a key town in Henan Province, is located in the north of Xinyang City, Henan Province, and is the most populous town in the province.

Minggang has successively won the titles of "Top Ten Famous Towns in Henan Province", "Top Ten Charming Famous Towns in Henan Province", "Experimental Town for Comprehensive Reform in Henan Province", "Famous Town in Zhongzhou", "Pilot Town for Small Town Construction in China", "Contact Point for Thousand County Projects of New Rural Construction in China" and "Best Investment Township in Henan in the Eyes of Foreign Merchants". During the "Eleventh Five-Year Plan" period, it was identified by the Henan Provincial Party Committee and the provincial government as a characteristic small city with key development in the province.

Minggang Town's "Minggang New Village" project is located in the south of Minggang, north to Fengchan Road, south to South Ring Road, west to New National Road 107, and east to Beijing-Guangzhou Railway. With a total area of 6,000 mu, it is a large-scale comprehensive development project integrating administrative office, business office, culture and entertainment, residence, education and sports. The planned area is about 3.2 square kilometers, the total planned investment is about10.40 billion yuan, and the project development period is about ten years. It is the key project of Minggang Town People's Government to build a new socialist countryside. The initial planning of Minggang Town takes two years to raise 400 million yuan to complete the construction project of administrative new district covering an area of 1000 mu.

However, it is such a key project supported by the government that people eagerly expect, but after a year and a half of construction, it has fallen into an embarrassing situation of suspension.

The first developer of the "Minggang New Village" project is the China-Hong Kong Real Estate Development Company. China-Hong Kong Group began to develop the "Minggang New Village" project from June 5 to 10, 2007. By September 2007, due to the lack of funds for further investment, China Hong Kong Group sold the project to Xinyang Zhongxing Real Estate Co., Ltd. at a price of 9 million yuan with the intervention of the government.

After Zhongxing Real Estate moved in, due to problems such as formalities handover with the original developer and economic disputes, the accounts handled by China-Hong Kong Real Estate Development Company and the projects under construction were not recognized, and Xinyang Zhongxing Real Estate Co., Ltd. had no confidence in the project, which led to the complete shutdown of the project in April 2008. After the project was stopped, the project site was long and chaotic, a large number of templates and cement were damaged, and the transformer was burned without maintenance, which brought huge economic losses to the contractor of the project. The contractor of this project is suffering from problems such as the developer's arrears in project payment.

Take the "Xingang Mall" project in Minggang New Village as an example. The project is divided into five blocks. The contractor of each block should pay a deposit of 200,000 yuan to the developer at the beginning of construction, and then sign a contract to be responsible for the construction of 8 buildings in each block. Construction started in April 2007 and was completed in August 2007. However, the project was completely shut down from the start of construction to the "Minggang New Village" project, but the developer never paid the project money to the contractor on schedule as agreed in the contract. According to the progress of the project, by the time the project stops, all the debts owed by the developer to each bid section are above 6,543,800 yuan.

After the shutdown of the "Minggang New Village" project, the project contractor paid the developer the project deposit, the project payment, the expenses incurred in purchasing building materials, the wages of construction personnel, the rental of construction equipment, etc. All this was paid to Shui Piao. As a result, the engineering contractor fell into an economic crisis and began a vicious circle of dodging debts.

Minggang Town, Xinyang's "Little Hong Kong" and "the best investment town in Henan in the eyes of foreign businessmen", was identified by the Henan Provincial Party Committee and the provincial government as a characteristic small city with key development in the province, and therefore fell. What grows on the fertile soil of 3.2 square kilometers is no longer fat crops, but a mixture of endless weeds and ugly reinforced concrete.

Questioner: Anonymous