China's central SOEs actively contribute to Xiong'an New Area construction

BEIJING - China's centrally-administered State-owned enterprises (SOEs) are actively taking part in the construction of the Xiong'an New Area and have set up more than 100 subsidiaries and branches in the region, according to the country's State assets regulator.

These subsidiaries and branches have entered sectors including infrastructure construction, frontier information technologies, advanced biological technologies, modern service, energy and new materials, said the State-owned Assets Supervision and Administration Commission (SASAC) of the State Council.

For the next stage, the central SOEs will make the most of their specialties in areas such as energy, electricity, communications and rail transportation to increase input in the construction of infrastructure and key projects in Xiong'an, according to the SASAC.

They will also lead innovation in the area by setting up new research institutions, high-tech firms, as well as key labs and engineering research centers. Meanwhile, they will push forward market-oriented reform and facilitate the green development of the Xiong'an New Area.

China announced its plan to establish the Xiong'an New Area on April 1, 2017, aiming to relieve Beijing of functions non-essential to its role as the national capital and to advance the coordinated development of the Beijing-Tianjin-Hebei region.

China's leadership has pledged to build Xiong'an into an innovative, green, smart and world-class city with blue skies, fresh air and clean water, and every inch of land in the area will be carefully planned.