The Xiongan High Speed Rail Co, the newly announced operator of the Beijing-Xiongan intercity railway, is set to accelerate the pace of bringing the Xiongan New Area, North China's Hebei Province, closer with the capital city.

Established on August 26 with 97.3 billion yuan ($13.56 billion), according to information available on the National Enterprise Credit Information Publicity System on Monday, the Xiongan High Speed Rail Co is mainly engaged in the operation of the high-speed railway between Beijing and Xiongan and rail service between Xiongan and Xinzhou city, North China's Shanxi Province, as well as both lines' logistics and catering business. 

The company's largest shareholder, China Railway Beijing Group, holds 33.87 percent of the company. 

Other shareholders include the Hebei Construction Transportation and Investment Co, Shandong Railway Investment Holding Group and Beijing Infrastructure Investment Co. 

The railway lines are both part of a larger system connecting the Xiongan New Area with other major railway networks. 

On August 9, the inter-city railway between Beijing and Xiongan was officially connected to the Beijing-Kowloon railway, according to information from Xiongan New Area's WeChat account. 

The section from the Beijing West Railway Station to the Daxing International Airport, which is part of the inter-city railway between Beijing and Xiongan, is expected to officially open for business at the end of September, reducing the trip to about 20 minutes, according to thepaper.com. 

In 2020, the section between the Daxing airport to the Xiongan station is scheduled to go into operation, the report said.