President Xi Jinping called for Xiong’an New Area to play a leading role in advancing innovative policies in sectors like technology and finance, reaffirming his commitment to develop a high-tech hub near Beijing.
The Chinese leader said the development zone, located some 100 kilometers southwest of the capital, should drive growth through reform and innovation, deepen links between technology and industry, and accelerate commercialization of research to promote emerging industries and upgrade traditional sectors, the official Xinhua News Agency reported, citing his remarks during his visit.
He also called for speeding up the orderly relocation of non-capital functions from Beijing and steadily transferring projects from state-owned enterprises, universities and hospitals, while supporting the move of financial institutions and research bodies to the area, Xinhua added.
Described by Xi as a project of “millennial significance,” Xiong’an has been billed as a high-tech city teeming with leading-edge companies, research institutes and world-class transportation that could rival Shenzhen or Shanghai. In practice, progress has been uneven since the plan was unveiled in 2017, with many residents and institutions slow to relocate.
However, Xi dispelled any doubts on the project he’s staked his reputation to as he reiterated on Monday that the authorities’ decision to build the Xiong’an New Area is “entirely correct,” according to the Xinhua report.
