The Shaanxi Xixian Cultural and Tourism Industry Group Co Ltd was set up on Thursday in Xi'an, capital of Northwest China's Shaanxi province.

Established by three State-owned companies — the Shaanxi Xixian New District Development Group, the Shaanxi Tourism Group and the Western Movie Group — the group has a registered capital of 2 billion yuan ($317 million).

Its business scope comprises culture, education, tourism, the construction of cultural parks, publications, film and TV production and distribution.

The establishment of the group was in response to the requirements of the Shaanxi provincial government to develop the province into a region with strong cultural offerings, said group chairwoman Li Zhao'e.

The group will also build the Xixian International Culture and Education Park, the Northern Scenery, Cultural and Tourism Central Area and the New Western Film and Television Base in the Xixian New District, which has an 882 square-kilometer area, she said.