Beijing's fixed-asset investment grew by 4.9 percent year-on-year in 2021, 1.9 percentage points higher than forecasts at the beginning of the year. Foreign investment and investment from Hong Kong, Macao, and Taiwan rose by 22.3 percent year-on-year, the highest growth rate in four years. Private investment likewise saw increases, with 6.4 percent year-on-year and an average growth rate of 6.9 percent over the past two years, accounting for the highest proportion of investment in the city in the past five years.

Improved efficacy of investment

Beijing executed a large number of projects aimed at the five key areas for development, i.e. building the city into an international center for science and technology innovation, making progress in developing the Integrated National Demonstration Zone for Opening up the Services Sector and the China (Beijing) Pilot Free Trade Zone ("Two Zones"), developing the digital economy city, stimulating and creating new demand with supply-side structural reform, and making greater headway with Beijing-Tianjin-Hebei coordinated development. The measures were sufficient to drive a 10.3 percent increase in investment in construction installation and equipment purchases, reflecting an upgrade to actual workload completed in the reporting period as expressed in physical units of measure and an expansion of production capacity. Beijing's manufacturing investment grew by 68.3 percent year-on-year in 2021, higher than the national average of 54.8 percent. Investment in software and information services and the financial industry grew by 20 percent and 68.2 percent year-on-year, respectively, providing new driving forces for high-quality development.

New progress in the construction and preparation of major projects

Beijing took an innovative working path to focus on "new opportunities, existing projects, greater growth and better preparation". The city completed CNY 287.2 billion worth of investment in three categories of major projects (100 major projects for sci-tech innovation and high-end, precision and sophisticated industries, 100 major infrastructure projects, and 100 major projects aimed at improving people's well-being), 3 percentage points higher than planned at the beginning of the year. Up to 85 percent of the projects has been launched, the highest level in ten years.

More active investment

Beijing pursued its policy of increasing momentum and stimulating vitality through reform, by further implementing reform and innovation in the development of the "Two Zones" and carrying out reforms to improve the business environment, investment, and financing, with greater efforts to facilitate private investment. Foreign investment and investment from Hong Kong, Macao, and Taiwan rose by 22.3 percent year-on-year, the highest growth rate in four years. Private investment increased by 6.4 percent year-on-year, with an average growth rate of 6.9 percent over the past two years, accounting for the highest proportion of investment in the city in the past five years.

(Source: Chinanews.com)