In the 1950s, the Beijing government chose not to preserve the whole of the city's historic center, which covered 62 km2, on the grounds that it would be too costly and unmanageable. But as the Jianguomenwai central business district, Fuchengmenwai Financial District, and the Wangfujing commercial area continue to expand rapidly, the city's leaders have come to realize that not merely the city's ancient monuments but also the cityscape in older neighborhoods constitute part of the city's charm and character.
The Beijing Municipal Construction Commission issued two regulations in 1999 that identified areas for historic preservation within the second ring road amounting to 5.58 km2 (about 9% of the area within the second ring road), which was subdivided into 25 sites. This area amounts to 15 picturesque ancient streets, three cultural-historical areas, four enclosed courtyard type residences (siheyuan), four historical lane areas (hutong), and three major commercial and cultural streets. Almost all of these properties are situated near the Qing Dynasty-era Imperial City. The plan aims to restore ancient sites and monuments gradually back to their original condition and convert the most attractive of them into public museums, thereby expanding the historical areas open to Beijing's tourists. Initially the Beijing government did not seem in any hurry to implement the plan, but shortly after the city was granted the 2008 Olympic Games it announced an acceleration of the plan and designated some US$ 208 million to restore historical sites and to remove the old and dilapidated buildings that surround them.
