On October 15, the China Satellite Network Group Co., Ltd. (referred to as China Satcom) announced the official opening of its office building in the Xiong’an New Area, marking the company’s full relocation as the first central enterprise to establish a presence in the region.
Less than a month after the office building’s completion on September 23, China Satcom successfully moved its headquarters along with four subsidiary companies to Xiong’an, paving the way for numerous satellite internet industry players and innovative platforms to follow suit.
Currently, Xiong’an New Area is in a significant phase of development, balancing large-scale construction with the relocation of non-capital functions from Beijing. In recent years, Xiong’an has focused on facilitating the relocation process, enhancing services, and improving supportive infrastructure, gradually creating an attractive environment for non-capital functions to thrive.
In addition to China Satcom, other central enterprises are making significant progress as well. The main structure of the office buildings for China Sinochem Holdings and China Huaneng Group has been topped out and is now undergoing finishing work. Other notable developments include the headquarters of China Mineral Resources Group, as well as campus expansions for four universities—Beijing Jiaotong University, University of Science and Technology Beijing, Beijing Forestry University, and China University of Geosciences (Beijing)—along with the establishment of the Xiong’an branch of Peking University People’s Hospital. In total, nearly 300 various institutions from central enterprises are now setting up in the Xiong’an New Area, highlighting the ongoing momentum of market-driven relocation projects.
