China's central SOEs urged to step up investment in Xiong'a

BEIJING, March 24 (Xinhua) -- China's state-owned enterprises (SOEs) directly administered by the central government are urged to intensify relocation to and investment in the Xiong'an New Area in north China's Hebei Province, as part of broader efforts to support the area's high-quality development.

A meeting held on Tuesday by the State-owned Assets Supervision and Administration Commission of the State Council called on central SOEs to fully leverage their resource advantages and driving role to deeply integrate into and provide proactive services for the development of the Xiong'an New Area.

Efforts should be made to ensure smooth progress in relieving Beijing of functions non-essential to its role as China's capital, the meeting said, adding that the first batch of relocated central SOEs should be guided to maintain stable operations in Xiong'an while construction of facilities for subsequent relocating central SOEs should be pushed forward.

The commission emphasized the need to continue guiding central SOEs to concentrate investment in the new area, actively participate in the construction of intelligent, efficient, safe and resilient infrastructure there, and help improve supporting functions.

Central SOEs were encouraged to implement key projects that strengthen industrial chains and have a clustering effect, to attract more outstanding enterprises to settle in the new area.

Efforts should also be made to guide central SOEs to establish more qualified research institutions, high-tech enterprises and pilot bases in Xiong'an. Central SOEs were encouraged to pursue independent innovation, accelerate breakthroughs in key core technologies, and promote the application of related achievements in Xiong'an.

To support the high-quality development of the new area, the commission also expressed support for central SOEs to develop internationally competitive and innovative businesses in fields such as new-generation information technology and satellite internet.