Second, we harnessed the power of technological innovation to cultivate a stronger driving force for high-quality development.

We stepped up the pace of building Beijing into an international innovation center. Emphasis was placed on developing and attracting top-tier scientists, especially among the young generation. Action plans were rolled out to secure the city's leading position in basic research and achieve breakthroughs in core technologies in key fields. We helped to ensure that Beijing-based national laboratories operate at high standards, and supported new R&D institutes in their organized research endeavors. Business-led collaboration that bridges industries, universities, and research institutes was promoted.

We boosted the development of the "three science cities and one demonstration area" (which refer to Zhongguancun Science City, Huairou Science City, Beijing Future Science Park and the Demonstration Area for Innovation-based Industrial Clusters. They serve as pivotal platforms for building Beijing into an international innovation center). In Zhongguancun Science City, ground-breaking technologies were developed at a faster pace. Newly piloted reform measures were extended to all parts of the Zhongguancun National Demonstration Zone. The launch of an experimental reform area dedicated to funding innovation was approved. The total revenues of large-scale businesses in Zhongguancun surged over 30%. Huairou Science City intensified efforts to develop the Comprehensive National Science Center, with 16 facilities and platforms in active use for research. Beijing Future Science Park strengthened collaboration with central state-owned enterprises and local universities. A number of projects, including a research hospital, were put into operation. The Demonstration Area for Innovation-based Industrial Clusters commercialized more than 270 research outcomes from the three science cities.

We bolstered our strengths in high-end, precision and advanced technology sectors. Over 30 support policies were implemented for niche sectors such as artificial general intelligence (AGI) and humanoid robotics. In addition, we rolled out another four government funds dedicated to these high-tech sectors. Our efforts to grow integrated circuit businesses across the entire value chain yielded solid progress. A number of innovative medicines and medical devices obtained approval for market release. Xiaomi's new fully-automated smartphone factory and Li Auto's flagship plant started production ahead of schedule.

We dedicated meticulous efforts to position Beijing as a global pacesetter in the digital economy. Beijing led China in launching world-leading blockchain infrastructure. A total of 30,000 5G base stations were added. Generative AI and large language model products approved for public use in Beijing accounted for nearly half of the national total. The Jingtong, Jingban and Jingzhi mobile terminals, as part of Beijing's smart city endeavors, were upgraded and widely adopted. The High-Level Autonomous Driving Demonstration Zone achieved seamless and integrated operation over an area of 160 square kilometers. We initiated China's first pilot zone for developing basic data systems. The added value generated from the digital economy now comprises 42.9% of Beijing's GRP.

We created and stimulated new demand through supply-side structural reform. Steady progress was made toward building a global consumption center. We upgraded 15 key commercial areas, each with a tailored plan. Almost 2.4 million square meters of new large-scale shopping facilities were opened. The Liangma River waterfront, renowned for its international appeal, has been instrumental in revitalizing the city's nighttime economy. Cultural and tourism-related consumption bounced back to pre-pandemic levels. We rolled out incentive schemes to stimulate effective investments. New policies were introduced to secure investment for major projects, with investment invitations of over 320 billion yuan extended to private investors.

We promoted high-level opening up. The State Council approved version 2.0 of our work plan for opening up the service sector, and more than 170 new pilot measures were rolled out. Beijing emerged as one of China's first pilots for institutional opening up. Approval was received for the establishment of Zhongguancun Integrated Bonded Area, the first of its kind focusing on R&D and innovation. The Financial Street Forum was a great success. We supported the expansion and quality upgrade of the Beijing Stock Exchange, which saw the number of companies listed on it nearly triple since it began trading. Beijing's very first China-Europe Railway Express freight train service directly destined to Europe was successfully launched.

We made diligent efforts to cultivate a business environment that provided tangible benefits for businesses. With tasks set out in version 6.0 of the business environment reform completed, we devised and implemented guidelines to improve the government's services to foster a more favorable business climate, and formulated an action plan to invigorate the private sector. The scope of "All-in-One-Go" (which means services are easily accessed on one website or at one service window, by filling in one form, and contacting one government representative all in a single visit) government services was expanded to include 23 additional items, such as applications for organizing large-scale public events. We continued to advance the reform consolidating the various permits previously required of each business into one comprehensive license in 40 sectors, such as restaurants and supermarkets. The number of integrated oversight reform pilots increased to 50. We also improved the "service packages" and "steward services" for businesses. Through these efforts, Beijing has seen a remarkable 20.3% surge in new business registrations, pushing the total number of registered businesses in the city to over 2.11 million, setting a new record.