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Beijing accelerates formation of new productive forces

Updated: 2024-02-20

Recently, the 2024 Beijing Investment Promotion and "Two Zones" Investment Promotion Conference was held. 

It was learned at the meeting that in 2023, the “Two Zones” of Beijing added 11,000 new projects to the database, with an expected investment of 1.3 trillion yuan ($181 billion), and a landing rate of over 60 percent. 

According to this year's goals for investment promotion in the city, the "Two Zones" plan to add 7,700 new projects to the database, with an expected investment of 970 billion yuan, and achieve a landing rate of 50 percent.

On Tongji North Road in Beijing E-Town, a former packaging factory has completed transformation and become the international headquarters of the high-tech enterprise Synaptic Medical. 

This company has mastered the core technology of cardiovascular intervention treatment devices, with independent intellectual property rights and multiple international and domestic patents. Its products are sold in domestic markets as well as Japan, Europe, the United States, and other markets.

Synaptic Medical is a key project in the "Two Zones" project database in Beijing. In recent years, a batch of key projects focusing on high-end fields in the "Two Zones" has been promoting the rapid development of the capital's economy towards high-quality development.

Last year, the city added 11,000 new projects to the database in the "Two Zones", a year-on-year increase of 93 percent; the expected investment was 1.3 trillion yuan, a year-on-year increase of 24 percent; and 8,512 projects landed, with the overall landing rate of projects exceeding 60 percent. 

Among them, the synergy and linkage between the city and districts in investment promotion have achieved significant results. The Municipal Investment Promotion Center recommended 146 projects to various districts and economic development zones, with 37 projects landed, involving 10.67 billion yuan.

How do good projects come in succession? Beijing’s investment promotion circle is further expanding. Last year, Invest Beijing newly recognized 12 institutions, including the Chinese Chamber of Commerce in Hong Kong (SAR), Jones Lang LaSalle, Deloitte Consulting, and Yingke Law Firm, bringing the total to 20.

In addition, large-scale events have also become a stage upon which Beijing's investment promotion has yielded fruitful results. At the 26th Beijing-Hong Kong Economic Cooperation Symposium, the city signed contracts for 34 projects including Indigo Phase II and the Image Computing Center, involving $9.43 billion.

This year, Beijing will continue to accumulate momentum for economic development in investment promotion. The goal for this year's new projects added to the database in the "Two Zones" is 7,700, with an expected investment of 970 billion yuan and a landing rate of 50 percent; among them, 800 foreign-funded projects are planned to be added to the database, with 550 foreign-funded projects landing. 

Beijing's investment promotion will also focus on "future industries", covering the six areas of future information, future health, future energy, combining the leading directions of various districts, industrial foundations of relevant parks, and resource endowment advantages to promote the differentiated complementary development of future industries and accelerate the formation of new productive forces.