policy

Xi Urges New Flagship City to Lead Tech, Finance Policy Trials

Foster Wong

1 min read

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⚡ Quantum Brief

President Xi Jinping directed Xiong’an New Area to spearhead groundbreaking policy trials in technology and finance, reinforcing China’s push to create a premier innovation hub near Beijing. The 100-kilometer-southwest zone, established as a high-tech development priority, must drive growth through systemic reforms and deepened tech-industry integration, per Xi’s March 2026 remarks reported by Xinhua. Xi emphasized accelerating research commercialization to boost emerging industries like quantum computing, AI, and biotech while modernizing traditional sectors through advanced applications. The initiative aligns with China’s broader strategy to decentralize Beijing’s economic pressure by cultivating Xiong’an as a model for policy experimentation and high-value industrial upgrades. Financial and regulatory sandboxes will likely follow, positioning the area as a testbed for tech-driven economic reforms amid intensifying global competition in critical technologies.

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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Chinese President Xi JinpingPresident Xi Jinping called for Xiong’an New Area to play a leading role in advancing innovative policies in sectors like technology and finance, reaffirming his commitment to develop a high-tech hub near Beijing.The Chinese leader said the development zone, located some 100 kilometers (62 miles) southwest of the capital, should drive growth through reform and innovation, deepen links between technology and industry, and accelerate commercialization of research to promote emerging industries and upgrade traditional sectors, the official Xinhua News Agency reported, citing his remarks during his visit.

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Source: Bloomberg Technology

Website: https://feeds.bloomberg.com/technology/news.rss

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