Xiongan New Area welcomes foreign investment: official

International companies that can meet the functional requirements of the Xiongan New Area in North China’s Hebei Province are welcome, He Lifeng, head of the National Development and Reform Commission, said Tuesday.

He told a press conference on the sidelines of the ongoing annual session of the National People’s Congress, China’s national legislature, that the planning and construction of the new area have entered a new stage.

An administration has been set up and talent recruited from across the country, He said.

“Projects from the world over that can meet the requirements of the non-capital functions from Beijing and high-quality development are welcome,” said He.

He noted that major infrastructure projects had begun in the new area, including the construction of a rail link with Beijing. Travel time between Beijing and Xiongan will be 30 minutes.

Afforestation in the new area started in the winter, He added.

The Xiongan New Area, established in April 2017, is a new economic zone about 100 kilometers southwest of Beijing. It is the third new area of national significance after the Shenzhen Special Economic Zone and the Shanghai Pudong New Area.

Lian Yuming, member of the 13th National Committee of the Chinese People’s Political Consultative Conference, suggested considering the establishment of a Xiongan free trade port to coordinate with Beijing’s new airport in southern Daxing district. Lian is also the head of International Institute of Urban Development in Beijing.

The new airport will be able to handle up to 4 million tons of cargo and mail each year.