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Beijing's "Two Zones" Overfulfill Investment Targets in 2023, with 11,000 New Projects Added to the Project Pool
Date: 2024-03-24
Source: BJNews
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On February 6, the 2024 working meeting of the Beijing investment promotion system was held. It was announced at the meeting that Beijing's "two zones" initiative attracted more investment than the annual target in 2023, with 11,000 new projects inventoried, representing a growth of 93 percent year on year. These projects are expected to generate an investment of 1.3 trillion yuan, indicating a year-on-year increase of 24 percent. A total of 8,512 projects were successfully implemented, leading to an implementation rate surpassing 60 percent.

Beijing Investment Promotion Service Center recommended 146 projects to Beijing's districts and Beijing Economic-Technological Development Area, 37 of which were successfully implemented, with a total investment of 10.67 billion yuan. Two batches of key investment projects in the "two zones" were announced and a joint project team comprising of both municipal and district departments was established to facilitate implementation of the key projects.

Beijing has further expanded its "circle of friends" for investment promotion. The city has witnessed the expansion of its global network of investment partnerships, with the addition of 12 new institutions, including HKCCC, JLL, Deloitte, and Yingke Law Firm, bringing the total number of global partners to 20. Global partners were invited to visit Fangshan, Changping, Daxing, Dongcheng, and Beijing Municipal Administrative Center to enhance collaboration between them and districts of Beijing. Over 300 companies were invited to participate in various investment promotion activities in Beijing.

An agreement was signed with the World Association of Investment Promotion Agencies (WAIPA), and connections were established with 17 business associations in developed countries and regions, including the Sino Europe Investment Promotion Association (SEIPA), and four overseas investment promotion institutions, such as BWA, further expanding investment promotion channels abroad.

Regular communication was enhanced with international business associations and foreign-funded enterprises in Beijing. Symposiums were organized for these associations and enterprises to communicate with municipal government officials, and relevant authorities were urged to respond to each of their concerns and suggestions. Field trips were made to the Thai Chamber of Commerce in China and the Swiss-Chinese Chamber of Commerce, among other institutions, and more than ten exchange events were held with various business associations. In addition, senior executives from 15 global companies including Philips and Boston Scientific met with Beijing’s municipal leaders, ensuring effective communication between the businesses and the municipal government.

The 26th Beijing-Hong Kong Economic Cooperation Symposium concluded with the signing of 34 projects, including the second phase of INDIGO and the Image Computing Power Center, with a total value of 9.43 billion dollars. The inaugural Invest Beijing Global Summit, held during the annual Zhongguancun Forum, resulted in the signing of 39 major projects worth 60.8 billion yuan. Ten bilingual policy service packages, including the one for the development of an international science and technology innovation center, were released during the summit and were well received by businesses. The Beijing-Tianjin-Hebei Region Collaborative Investment Promotion and "Invest Beijing" Global Summit was held as part of the "Beijing Day" event at the China International Fair for Trade in Services. Agreements on 51 major projects, with a total value of 104.55 billion yuan, were signed. Investment promotion agencies of Beijing, Tianjin and Hebei also signed a strategic cooperation agreement.