The Most Frequently Asked Questions about Xiongan

In 2017, China announced the creation of a new economic zone called Xiongan New Area. It is located around 100 kilometers southwest of Beijing and aims to relieve the pressure on the capital by attracting industries and residents. Since its announcement, Xiongan has generated a lot of interest worldwide. People are curious to know what this area is all about, how it will impact existing industries and businesses, and what kind of opportunities it will bring. In this post, we will answer some of the most frequently asked questions about Xiongan.

What is Xiongan?

Xiongan New Area is a state-level new area announced by the Chinese government in April 2017. It aims to promote coordinated development in the Beijing-Tianjin-Hebei region and build a modern economic system. The area will cover 2,000 square kilometers initially and will eventually expand to 100 square kilometers in the long run.

What is the purpose of Xiongan?

The purpose of Xiongan is to relieve the pressure on Beijing by attracting industries and residents to the new economic zone. The government hopes to shift non-capital functions, such as industries, universities, hospitals, and government offices, to Xiongan, and leave Beijing as the political and cultural capital.

What kind of industries will Xiongan focus on?

Xiongan will focus on industries related to advanced technology, high-end equipment manufacturing, and modern services. In particular, it will prioritize industries related to the digital economy, gray ecology, and high-end modern services. The government has released a plan for the development of Xiongan that outlines the focus on industries such as fintech, big data, artificial intelligence, biomedicine, and new materials.

What kind of benefits will Xiongan bring to businesses?

Xiongan aims to provide a perfect business environment for both domestic and foreign companies. The area will focus on building a business-friendly environment with low taxes, streamlined business procedures, and efficient government services. Businesses can benefit from the opportunities brought by Xiongan’s focus on advanced technology and modern services. For example, fintech companies can expect to benefit from Xiongan’s emphasis on the digital economy, while biotech companies can leverage the area’s focus on biomedicine.

What kind of benefits will Xiongan bring to residents?

Xiongan aims to build a livable and sustainable city, integrating modern technology and ecological values. The city will prioritize green spaces, intelligent transportation systems, and renewable energy. Residents can benefit from the opportunities brought by Xiongan’s focus on high-end modern services. For example, Xiongan will focus on healthcare, education, and art and culture, providing residents with a high-quality living environment.

How will Xiongan impact existing businesses in Beijing?

Xiongan aims to shift non-capital functions from Beijing to the new economic zone. Therefore, some industries, such as non-core government services and heavy manufacturing, may experience a downturn in Beijing. However, Beijing will continue to be the political and cultural capital of China, and many industries that rely on this status will not be affected by Xiongan’s development.

When will Xiongan be completed?

Xiongan’s development will be divided into three phases. The first phase was announced in April 2017 and is expected to be completed by 2020. The second phase will be from 2020 to 2035, while the third phase will be from 2035 to 2050. However, the government has emphasized that Xiongan’s development is a long-term project, and the completion time may change based on the economic situation and development progress.

How can businesses and individuals participate in Xiongan’s development?

Businesses and individuals can contribute to Xiongan’s development in various ways. Domestic and foreign companies can participate in Xiongan’s construction and investment projects, while individuals can participate in cultural and artistic activities in Xiongan. The government has also encouraged innovative startups to set up businesses in Xiongan and participate in the development of the digital economy.

Conclusion

Xiongan New Area is a new economic zone that aims to promote coordinated development in the Beijing-Tianjin-Hebei region and build a modern economic system. The area will focus on industries related to advanced technology, high-end equipment manufacturing, and modern services. Businesses and individuals can benefit from the opportunities brought by Xiongan’s development, particularly those related to the digital economy, biomedicine, and new materials. Xiongan’s completion time may change based on the development progress, but the government has emphasized that it is a long-term project.

Overall, Xiongan New Area is a promising development that can provide new opportunities for businesses and high-quality living environments for residents. Keeping an eye on Xiongan’s development can be a good idea for those looking for new opportunities in China.