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China Unveils Raft of Xiongan New Area Relocation Incentives

A range of incentives intended to promote relocation from Beijing to the Xiongan New Area – the key development hub for the proposed Beijing-Tianjin-Hebei Region – has been unveiled by the CPC Central Committee and the State Council. Among the proposals – outlined in Guiding Opinions on Supporting the Comprehensive Deepening of Reform and Expansion of Opening Up in the Xiongan New Area in Hebei are improvements to local governance and support for attracting both high-level staff and relocation-minded state enterprises.

Overall, the aim of these new proposals is to boost the appeal of the Xiongan New Area for businesses and individuals currently resident in Beijing, as well as to help pave the way for the relocation of a number of the city’s non-capital functions by 2022. At present, it is anticipated that all the reforms and opening up measures currently approved with regard to Xiongan will be in place by 2035.

One of the key elements of the measures being put in place is an assurance that Xiongan will be home to a vibrant and cutting-edge domestic economy. To this end, every effort will be made to welcome in major state enterprises, accommodate the needs of relocating staff and to open up the local urban economy to national and global trade / investment.

For further details (in Chinese), please access the following link:

Guiding Opinions of the CPC Central Committee and the State Council on Supporting the Comprehensive Deepening of Reform and Expansion of Opening Up in the Xiongan New Area in Hebei

Content provided by Picture: HKTDC Research
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