{
  "id": 12529922,
  "title": "China’s ‘city of the future’, Xiongan, hunting high-value tech firms: sources",
  "url": "https://urgent.news/2026/10/07/chinas-city-of-the-future-xiongan-hunting-high-value-tech-firms",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-07T03:00:08.000Z",
  "source": {
    "name": "SCMP Tech",
    "slug": "scmp-tech",
    "url": "https://www.scmp.com/tech/article/3369879/chinas-city-future-xiongan-hunting-high-value-tech-firms-sources"
  },
  "original_language": "en",
  "account": null,
  "summary": "China's Xiongan New Area, often referred to as the \"city of the future\", is aggressively seeking high-value technology firms to bolster its nascent tech sector. The city, established in 2017 to relocate state-owned institutions from Beijing, is pursuing an ambitious three-year plan called \"511\", which aims to cultivate five companies valued at or above 10 billion yuan, 10 with valuations over 5 billion yuan, and 100 core firms. Officials are particularly interested in attracting firms in artificial intelligence, satellite internet, and robotics, with a target valuation of 10 billion yuan. While state-owned enterprises have already begun to move their headquarters to Xiongan, experts caution that this alone will not establish a lasting technology industry, emphasizing the need for suppliers, researchers, and business operations to also relocate. The city has also seen a rise in AI professionals and entrepreneurs from Beijing seeking to establish \"one-person companies\" in Xiongan, further fueling its ambition to become a tech hub.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}