An investment company has been established to provide financing services for the development of Xiongan New Area.
The Xiongan Construction Investment Group completed the necessary industry and commerce registration process on July 18. The company was approved by Hebei government and has independent legal qualification. The newly-established firm has registered capital of 10 billion yuan ($1.5 billion).
The company will attract social capital through different channels and take part in public-private partnerships.
Meanwhile, the company will build an investment and financing system for the new area; carry out estate development, and take charge of infrastructure construction.