Beijing recently introduced the Several Measures for Expediting the Cultivation and Development of New Driving Forces by Leveraging Driving and Amplifying Effects of Government Investment. The initiative intends to develop new driving forces with a focus on the creation of a high-level new infrastructure system, the expansion and strengthening of high-end, sophisticated and cutting-edge industries, and the unleashing of consumption potential.

It is known that Beijing plans to invest over CNY Ten billion in government funds to attract more social capital into strategic emerging industries[1]  with significant clustering, multiplier[2]  and spillover effects. Efforts will also be made to proactively cultivate future industries and facilitate the development of new quality productive forces.

(Source: Beijing Daily)