China's State Council officially approved an overall plan (2018-2035) for the Xiongan New Area in north China's Hebei Province on Wednesday.

The overall plan contains basic regulations regarding development, construction and management of the Xiongan New Area.

According to the plan, Xiongan is intended to attract high-end industries and take on some of the capital city's non-essential functions. The plan is of great importance in creating a national model that promotes high-quality development, and will help to form a new engine for building a modern economic system.

A master plan for the Xiongan New Area was approved in April 2018 by the central authorities, which marked out the basic steps that need to be taken in establishing the new area.