The Central Committee of Communist Party of China (CPC) and Chinese State Council issued guidance on Thursday on further reform and opening-up of the Xiongan New Area.
Xiongan is another new area of “national significance” following the Shenzhen Special Economic Zone and Shanghai Pudong New Area, according to the document.
The guidance encourages the building of inclusive platforms in Xiongan emphasizing international cooperation on the Belt and Road Initiative so as to boost pragmatic and effective collaboration between Xiongan and regions in other countries.
It promotes innovation in attracting talent to the region and calls for the optimization of the system for overseas brain gain and service.
It also supports trial projects in Xiongan to reform the management of attracting international talent through more convenient processing of Chinese visas and residence permits.
On social security, employment and entrepreneurial systems, the guidance stresses that government subsidies for vocational training should be available to all legitimate training institutions, and a new mechanism designed to provide job opportunities to farmers who are without land due to the development of the Xiongan New Area should be explored.
The guideline also promotes innovation in finance and economy in the area, granting it more freedom in developing financial products and setting policies for small and medium-sized enterprises.
Innovative ideas and mechanisms are also applauded in the technological field, including transforming the city into a waste-less place and a global wetland city.
According to the guideline, foreign-owned medical consulting agencies and foreign medical practitioners are to be encouraged to do business in Xiongan.
It also allows experiments and trials in cutting-edge technological areas to be conducted in Xiongan first.
Geographically located in Hebei Province, the Xiongan New Area was founded in April 2017. It is expected to be a key linchpin in China’s strategy to further integrate the Beijing-Tianjin-Hebei region.