Editor's Note: The Ministry of Education said on Tuesday that a working group for the establishment of colleges of the proposed Xiongan University was formed in Beijing recently. 21st Century Business Herald comments:

When the Communist Party of China Central Committee and the State Council, China's Cabinet, decided to establish Xiongan New Area in North China's Hebei province two and a half years ago, the "millennium strategy" was welcomed by all sections of society.

From the regional economic development point of view, the significance of the Xiongan New Area lies in "transferring some non-capital functions of Beijing" and "adjusting and optimizing the urban layout and spatial structure of the Beijing-Tianjin-Hebei region".

As a "new engine of innovation-driven development", the Xiongan New Area is expected to help realize north-south economic balance by launching a new round of reform and opening-up.

Since 1993, the southern provinces have accounted for about 60 percent of China's GDP, while the northern provinces' contribution has been about 40 percent. The establishment of the Xiongan New Area will expedite the economic development of the northern region and form another strong growth pole for the region, striking a north-south economic balance.

If one understands the significance of the "millennium strategy", the significance of building a world-class university in all respects in Xiongan will become self-evident. It is a vital project for not only the Xiongan New Area, but also for achieving sustainable development.

Modern universities have become essential to regional development, as they not only cultivate talents and produce fruitful scientific research, but also serve as a driving force for regional industrial innovation.

By building a high-level, open and world-class higher education center, Xiongan University can inject vitality into the development of the Xiongan New Area in the long run.

As such, the establishment of Xiongan University is integral to the development of the Xiongan New Area and the implementation of the "millennium strategy".

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