(Yicai Global) April 10 -- China Construction Bank, one of China's four major state-owned banks, said it will set up a branch in the newly founded Xiongan New Area.
Its head office formed a high-profile leadership group led by Chairman Wang Hongzhang and including President Wang Zuji and Vice Presidents Zhang Gengsheng and Yu Jingbo. The group aims to set up a branch in the new special economic zone as soon as possible.
Xiongan New Area, located about 100 kilometers southwest of Beijing, was pegged as the country's next special economic zone at the beginning of the month. Property sales in the region were quickly banned after dramatic price hikes followed the announcement.