SHIJIAZHUANG - The Agricultural Bank of China (ABC) on Monday announced the opening of its branch bank in Xiongan New Area.

The lender became the first among the country's "big four" State-owned banks to set up a branch in Xiongan New Area.

Li Jun, head of the Xiongan branch, said the branch has set up sub-branches in the counties of Rongcheng, Anxin and Xiongxian, and it has 270 employees in Xiongan.

China announced plans in April 2017 to establish Xiongan New Area about 100 kilometers southwest of Beijing. It covers Hebei province's Xiongxian, Rongcheng and Anxin counties. It is the third new area of national significance after the Shenzhen Special Economic Zone and the Shanghai Pudong New Area.