Recently, Yin Yong, Mayor of Beijing, met with Lim Chow Kiat, CEO of the Government of Singapore Investment Corporation (GIC).
Yin Yong said that China has long served as a major driver and anchor for global economic growth. With immense growth potential and development space, China remains one of the most appealing destinations for global investment. Beijing’s rich educational, technological and talent resources allow it to enjoy a prominent strength in technology and innovation, as evidenced by plenty of local technology enterprises featuring strong innovation capabilities and high growth potential. To accelerate the development of building Beijing into an international innovation hub, we are leveraging government investment funds for counter-cyclical adjustments to support sci-tech innovation enterprises and showcase practical application scenarios. Efforts are focused on high-end, precision and cutting-edge emerging industries, such as new energy vehicles (NEVs) and AI, and future-oriented industries, such as humanoid robotics. As a leader of China’s financial openness, Beijing is leveraging the development of the “two zones” initiative to further open its financial sector, so as to create more favorable conditions for foreign-invested financial institutions to thrive in Beijing. We encourage GIC to fully leverage Beijing’s market and resource strengths to expand its investment footprint, thereby guiding and attracting more international enterprises, including those from Singapore, to grow in Beijing. This will generate mutual benefits and allow all parties to share in the fruits of Beijing’s high-quality development. We will continue to foster a world-class business environment and provide comprehensive support for all types of enterprises in Beijing.
Lim Chow Kiat said that GIC has long maintained a positive view on China and has been steadily increasing its investment in the country. In recent years, GIC has invested in many industrial leaders and startups in Beijing. He also expressed the company’s commitment to seizing development opportunities in Beijing, maintaining close communication, and further expanding its investment footprint in this city.
Zeng Jin, Secretary General of Beijing Municipal Government, attended the meeting.
