(Yicai Global) Sept. 13 -- Newly established Xiongan New Area, located in northern China's Hebei province, plans to build a new hub for the software sector within 10 years and attract CNY1 trillion (USD153 billion) of business.

Hebei will work with the central government, local governments in Beijing, Tianjin and Hebei and software associations to establish a coordinated strategy to realize the project using policy support in the Xiongan New Area, Hebei province's industry and information technology department said on its website.

The development of the software and information technology service industry is in line with Xiongan New Area's position as a future hub for developing high-end and high-tech industries, the department said.

The Chinese central government set up Xiongan New Area in early April this year in order to ease Beijing's non-capital functions, optimize city layouts in Beijing, Tianjin and Hebei and nurture innovation-driven development.