Hebei channels funding through Beijing-Tianjin-Hebei cooperation

Hebei Province, which neighbors Beijing, obtained 250 billion yuan (38 billion U.S. dollars) of funding in 2017 through the Beijing-Tianjin-Hebei regional cooperation mechanism.

Sources with the provincial development and reform work meeting held earlier this week said the province drew funding from Beijing and Tianjin through 3,000 projects for the coordinated development of the Beijing-Tianjin-Hebei region in transportation, ecology and industry.

The provincial development and reform commission said building transportation networks, including highways, high-speed railways and airport construction, is the basis of coordinated regional development.

The commission said Hebei should seize the opportunity of the development of the Xiongan New Area and its co-host role with Beijing for the 2022 Winter Olympics to boost the province's development.

Xiongan, 100 kilometers southwest of Beijing, covers Hebei Province's Xiongxian, Rongcheng and Anxin counties. China aims to make the area low-carbon, intelligent, livable and globally influential.

The Beijing-Tianjin-Hebei integration plan initiated in 2015 has also seen a large number of technology companies and wholesale markets relocated from Beijing to Hebei and Tianjin.