Shijiazhuang, capital city of North China's Hebei Province has become a magnet for investment from both domestic enterprises and multinational corporations, thanks to its improving investment environment and related measures.
In the first five months, the city has signed 59 agreements with central enterprises worth 157.66 billion yuan this year, domestic media reported. Central enterprises refer to firms under the direct supervision of the State-owned Assets Supervision and Administration Commission.
China National Pharmaceutical Group Corporation (Sinopharm), the largest medical and healthcare group in China, has invested 3.44 billion yuan to build four projects in the city, including a Pharmaceutical logistics base and a biological technology industry base.
Shijiazhuang is also popular among major multinational corporations. From January to May, 20 of the global Fortune 500 corporations have decided to invest in the city, with the total investment reaching US$1.13 billion.