The railway group moves subsidiaries to Xiong’an | So Good News
China Railway Group, a leading construction and engineering contractor worldwide, has moved several subsidiary companies to Xiong’an New Area in Hebei province in the first relocation of an industrial cluster by a state-owned enterprise, Hebei Daily reported.
Headquartered in Beijing, the group will play a key role in leading industrial clusters to be transferred to Xiong’an – a new region created to carry out functions not essential to Beijing’s role as a capital, the group was quoted as saying by the Hebei Daily.
The relocated companies include the group’s diverse businesses within investment, construction and design. More than 4,000 technical experts will work and live in Xiong’an, the report said.
Since the establishment of the new area in 2017, the group has contracted to build 161 projects, of which over a hundred have already been completed, it said.
The projects include roads, buildings, forests and parks.