Shipbuilder behind Chinese aircraft carrier to move to Xi Jinping’s ‘dream city’

China Shipbuilding Industry Corporation, which is making the nation’s first home-grown aircraft carrier, has become the first central government-owned enterprise to pledge to relocate some of its businesses into the Xiongan New Area.

President Xi Jinping handpicked three rural counties – Xiong, Rongcheng and Anxin – to be turned into a new special economic zone, which the government hopes will become an engine for growth.

Although details are still lacking, at least 10 central government-owned enterprises have expressed support and willingness to participate in the construction of the new area, including Sinopec and China Unicom.

China Shipbuilding however is the first to make its commitment to the zone explicit, promising to move its research units and facilities into the area.

Beijing Great Wall Electronic Equipment, the company’s arm of underwater acoustic communication devices, will relocate from Beijing to the new area. The unit currently has 600 employees, according to the company’s website.