Railway group shifts subsidiaries to Xiong'an

China Railway Group, a leading construction and engineering contractor worldwide, has relocated multiple subordinate companies to Xiong'an New Area in Hebei province in the first relocation by an industrial cluster of a State-owned enterprise, Hebei Daily reported.

Headquartered in Beijing, the group will play a key role in leading industrial clusters to transfer to Xiong'an — a new region created to discharge functions that are not essential to Beijing's role as the capital, the group was quoted as saying by Hebei Daily.

The relocated companies include the group's diverse businesses involving investment, construction and design. More than 4,000 technical experts will work and live in Xiong'an, the report said.

Since the establishment of the new area in 2017, the group contracted to build 161 projects, over a hundred of which have already been completed, it said.

The projects include roads, buildings, forests and parks.