Business / Economy

Beijing, Hebei agree on regional development

(Xinhua) Updated: 2014-08-01 10:22

BEIJING - Beijing and Hebei province on Thursday signed seven agreements and a memorandum to promote regional integrated development.

The agreements include jointly developing the Caofeidian economic development zone in Bohai Bay and an economic zone around the new airport under construction in Beijing, accelerating market integration and coordinating development of the logistics industry. A memorandum on traffic integration cooperation was also signed.

Zhou Benshun, secretary of the Hebei Provincial Party Committee, said the signing of the agreements has opened a new chapter in regional development.

The agreements came after President Xi Jinping earlier this year called for integrated, coordinated development of the region around Beijing in terms of functions, industrial distribution, urban layout and transportation, with detailed measures in finance, investment and project schedules.

The idea of a regional cooperative bloc is not a new one for China. Shanghai's Yangtze River Delta and the Guangzhou's Pearl River Delta have brought economic booms to their cities thanks to coordinated industrial and commercial partnerships.

Beijing, Hebei agree on regional development Beijing, Hebei agree on regional development
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