Xiongan New Area to Keep Existing Industries, But Thrive On Hi-Tech, Innovation, Says Senior Expert

(Yicai Global) April 5 — Xiongan New Area in Hebei Province, in which China’s government decided to set up the country’s new special economic zone (SEZ), will thrive on hi-tech industries, actively embracing innovative elements and gathering innovative resources to develop new driving forces for the economy, said a senior government expert.

Wu Hequan, deputy director of Beijing-Tianjin-Hebei Cooperative Development Expert Advisory Committee and an academic with the Chinese Academy of Engineering, told the Beijing News that the current industries in this new area will remain as long as they do not cause severe pollution and high energy consumption.

Wu also said the headquarters of some central enterprises are likely to be relocated to the Xiongan New Area, but it is too early to talk about the specific targets yet.

In his view, not only will Xiongan New Area serve as a hub carrying out the non-capital functions of Beijing, but also constitute a significant demonstration platform. Furthermore, the Area aims to provide new growth drivers for the socio-economic development of Hebei province and to narrow the development gap within the Beijing-Tianjin-Hebei region, thus creating a new impetus for China’s economic development, Wu stressed.

“If Xiongan New Area could explore a new development path, it would exert great demonstration effect on other regions in the country,” Wu said.

Currently, among the three counties the new area encompasses, Rongcheng is supported by the garment industry; Xiongxian relies on plastics processing and packaging, and Anxin, which benefits from the natural endowment- Baiyangdian water system, regards tourism as its strategic industry.

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