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Beijing E-Town allocates 20 billion yuan annually to support high-tech industries

Updated: 2023-11-30

In recent years, Beijing E-Town has oriented its policies towards supporting the innovative development of enterprises, introducing over 30 measures to assist in the development of companies. It allocates nearly 20 billion yuan ($2.83 billion) in funds each year to support the development of high-tech industries.

Over the past three years, the area has disbursed 96 million yuan in reward subsidies to over 1,000 talents.

Currently, the area has also gathered more than 400,000 industrial talents, with a talent contribution rate of 64.62 percent, surpassing the city's average by 7.35 percentage points. 

This year, Beijing E-Town also released the "Ten Measures for Talent" 2.0 version, escalating the level of policy support.

Beijing Tide Pharmaceutical Co recently received the 2022 Innovative Medicine Research and Development Award. This award is specific to a type of innovative drug, the TDI01 suspension, independently developed by Tide Pharmaceutical. 

This reflects a snapshot of the implementation of policies in key industrial areas in Beijing E-Town, part of the "Biopharmaceutical 1+2" policy. 

By releasing the "Biopharmaceutical 1+2" policy, the area clearly defines two development directions: innovative medicine and medical devices, encouraging enterprises to conduct early research and development and clinical research. 

The annual reward limit for a single enterprise has been increased to 100 million yuan. Depending on the different stages of a new drug entering clinical trials, subsidies ranging from 10 million to 40 million yuan are provided, aiming to create a globally influential "intelligent manufacturing of new medicines" industry hub.

Following the tasks outlined in the implementation plan for promoting the innovative development of future industries in Beijing, Beijing E-Town will deploy 20 subdivided industries, including general artificial intelligence, quantum information, metaverse, smart travel, and hydrogen energy, within 17 industrial spaces spanning 225 square kilometers in E-Town New Area. 

Additionally, in areas such as humanoid robots, commercial rockets, artificial intelligence, and metaverse, Beijing E-Town encourages companies to conduct forward-looking basic research, deepen collaboration with national laboratories and universities, explore the establishment of the Beijing Natural Science Fund-Economic and Technological Development Zone Innovation Joint Fund, and to issue computing power vouchers to promote the application of large artificial intelligence models.