China Agricultural Development Group Co holds a groundbreaking ceremony for its new headquarters in the Xiong'an New Area in North China's Hebei Province, on December 25, 2025. Photo: VCG

From Thursday to Sunday, three major central state-owned enterprises (SOEs) held groundbreaking ceremonies for their new headquarters in the Xiong'an New Area in North China's Hebei Province. Analysts said that the relocation will further help Beijing relieve non-essential functions related to its role as the nation's capital, while advancing the coordinated development of the Beijing-Tianjin-Hebei region. 

The groundbreaking ceremonies of China Agricultural Development Group Co, China Huadian Corp and China Chengtong Holdings Group, coupled  with the construction of China Datang Corp's headquarters, which commenced earlier this year, mark that all four Beijing-based central SOEs in the second wave of relocations to Xiong'an have now launched construction of their new headquarters, the Xinhua News Agency reported on Sunday.

To date, the headquarters of eight central SOEs have relocated to Xiong'an, according to Xinhua.

Located approximately 100 kilometers southwest of Beijing, the Xiong'an New Area was officially launched on April 1, 2017. This strategic development initiative serves to decentralize functions that are not essential to Beijing's role as the national capital, while simultaneously fostering coordinated growth throughout the Beijing-Tianjin-Hebei economic corridor. 

Xiong'an was designed to be a smart and livable city that is innovative, green and free from "urban ills." The process explores a new model of development in densely populated areas, said Xinhua.

The Xiong'an New Area, designed as the primary destination for relocating Beijing's non-essential capital functions, has made progress during China's 14th Five-Year Plan period (2021-25). 

For example, China Satellite Network Group Co and its subsidiaries moved into their headquarters in Xiong'an in October 2024. China National Chemical Corp (Sinochem) and China Huaneng Group officially relocated to Xiong'an in October 2025. 

"The Xiong'an New Area is using these relocations to drive regional growth, foster technological innovation and attract industries and resources," Wu Bo, an executive deputy director of the Xiong'an New Area's Management Committee, was quoted by Xinhua as saying.

"By promoting deep integration between scientific and industrial innovation, Xiong'an has already welcomed more than 400 branches of central SOEs and more than 4,000 companies from Beijing," said Wu.

According to a Xinhua report, Xiong'an has entered a pivotal stage, where large-scale infrastructure projects are advancing in tandem with accelerated relocation efforts. The focus has now shifted toward promoting high-quality development, high-standard management and coordinated, efficient resettlement. 

During a November trip to Xiong'an, Zhang Yuzhuo, chairman of the State-owned Assets Supervision and Administration Commission (SASAC) of the State Council, urged central SOEs to seize opportunities and better serve the overall work of the country's economic development.

"The SASAC will provide greater support for central SOEs to gain a solid foothold, achieve stability and pursue development in the Xiong'an New Area," said Zhang.

Global Times