Hebei ready for economic development

Hebei will be better prepared for the industry that will move there from the capital in the next five years, making the surrounding economic region more competitive.

"The provincial government will start the development plan to promote the capital economic zone," said Zhang Qingwei, the provincial governor at the first session of the 12th Hebei Provincial People's Congress, which opened on Saturday.

Hebei is the neighboring province of Beijing, but the economic development of the two areas is not balanced.

A strong economy and other factors brought many problems to Beijing, such as soaring house prices and congested traffic.

The provincial government work report said they will benefit each other through cooperation. Hebei will provide space for the economic expansion of the capital. Regional zones will be one of the top priorities in the next five years.

Hebei has its own advantages to attract investment from the capital. About 56 State-owned companies launched 119 projects in the province, involving a total investment of 115 billion yuan ($18.5 billion).