China Xiong’an Group, a state-owned enterprises focusing on the construction of Xiong’an New Area, has opened a batch of new projects for bidding tenders, hoping to attract 222 million yuan (US$32.42 million) in investment, Securities Daily reported.

Insiders believe the large-scale construction of Xiong’an New Area is approaching, and related infrastructure projects in the second half of the year are expected to usher in a rapid rise.

Xu Guangrui, head of Guoxin Future Science and Technology Research Institute, said the overall investment scale of the area is about 300 billion yuan, most of which is concentrated in infrastructure construction and industrial development.

Among that, more than 230 billion yuan will focus on infrastructure construction, such as railways, highways, drainage, ecological restoration, demolition and resettlement.

About 60 billion yuan is concentrated on major industrial projects, including the construction of information industry parks and smart car demonstration zones.

In addition, there is about 12 billion yuan in public service investment, including the construction of data platforms, schools and hospitals.

Xiong’an, a state-level new district located midway between Beijing, Tianjin and Shijiazhuang, is planning to share in the city functions of the already overcrowded Beijing.