Foreign Investment Welcome in Xiongan

International companies that meet the functional requirements of the Xiongan New Area are welcome to move in， He Lifeng， head of the National Development and Reform Commission， told a press conference on the sidelines of the annual session of the National Peoples Congress on March 6.

“Projects from anywhere in the world that meet the requirements of the non-capital functions from Beijing and high quality development are welcome，” he added.

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

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