First State-owned enterprise headquartered in Xiong'an completed

The headquarters of China Satellite Network Group in North China's Xiong'an New Area has passed through acceptance check and will be put into use soon, Xinhua News Agency reported.

With construction started in June 2022, it is the first centrally administrated State-owned enterprise to be set up in the area and also a backbone enterprise in the business of satellite-based internet network construction.

As of November, the SOEs have set up more than 200 subsidiaries and various branches in the area.

A completion ceremony was jointly held by the Administrative Committee of Xiong'an New Area and the company on Thursday, which means the group is starting to take on many of Beijing's non-capital functions.