The Communist Party of China and the State Council announced on April 1 the establishment of the Xiongan New Area in North China's Hebei Province, roughly 100 kilometers away from both Beijing and Tianjin, as part of a batch of measures to advance the integrated development of the Beijing-Tianjin-Hebei region. The announcement equates the new area with the Shenzhen Special Economic Zone and Shanghai's Pudong New Area, as "a choice of historic significance for the development of the next millennium." In contrast with the booming metropolises that Shenzhen and Pudong are today, Xiongan is at the moment an underdeveloped region, but one with huge potential for development. Since the announcement, throngs of speculative investors have swarmed into Xiongan and adjacent areas to buy up property, only to find transactions have already been strictly restricted to avoid the overheating of another real estate market.
Since the 18th National Congress of the Communist Party of China in late 2012, Xi Jinping has visited the inland areas of the Beijing-Tianjin-Hebei region several times and presided over conferences for the coordinated development of the region.
President Xi ordered that a new area of Hebei should be established to host the non-capital functions of Beijing and be built into a modern new city guided by new ideas of development. President Xi visited Anxin county on February 23 and presided over a meeting for the planning of the Xiongan New Area.
The Xiongan New Area will cover parts of three relatively underdeveloped counties, namely Xiongxian county, Anxin county and Rongcheng county, which are all under the administration of Baoding, Hebei Province. It will host some of the non-capital functions of Beijing as part of the coordinated development of the Beijing-Tianjin-Hebei region.
Xiongan will be designed to follow the examples of the Shenzhen Special Economic Zone and Pudong New Area in Shanghai
Help shoulder some of Beijing's non-capital functions
Explore a new model of optimized development for densely populated areas
Promote innovation and development
Restructure the urban layout of the Beijing-Tianjin-Hebei region
The 'four requirements' for Xiongan
Global view, international standards, maintaining Chinese characteristics and top-down planning
Eco-friendly and green development
People-centric design, secure and improved livelihoods
Protection and promotion of traditional values and culture, ensuring the inheritance of history