Recently, Beijing held the 2022 working meeting on investment promotion of the city and investment attraction and foreign investment stabilization in the Integrated National Demonstration Zone for Opening up the Services Sector and the China (Beijing) Pilot Free Trade Zone (the "Two Zones" for short).

The achievement of Beijing's investment attraction and foreign investment stabilization in 2021 was released at the meeting. Last year, focusing on the "five key projects" (namely building Beijing into an international center for innovation; making progress in building the "Two Zones"; developing the digital economy; stimulating and creating new demand through supply-side structural reform; and making greater headway with Beijing-Tianjin-Hebei coordinated development through relocation of functions non-essential to the role of the capital), Beijing obtained great fruits in the investment promotion, and the investment attraction and foreign investment stabilization in the "Two Zones". The "Two Zones" saw 3,583 new projects throughout the year, 124 percent of its expected target. The estimated investment capital reached CNY 1,402.2 billion, 115 percent of the expected target. In the entire year, 1,924 foreign companies were established, with contracted foreign investment of USD 43.71 billion; and the paid-in foreign investment totaled USD 15.56 billion, 103.7 percent of the target.

In 2022, Beijing has once again set a high target for investment attraction. Beijing plans to attract 2,400 new projects with an estimated investment of CNY 960 billion. At the same time, the Beijing Investment Promotion Service Center will work with each district to identify at least 20 target enterprises among companies in the "Global 500" and "China 500" lists and leading enterprises of key industries in each district to promote the implementation of major projects.

Investment promotion has been actively carried out in all districts of Beijing. Among them, Daxing District has taken the lead to sign contracts with six major projects serving the "Two Zones" development, with expected operating revenue of more than CNY 10 billion and estimated comprehensive tax payment of nearly CNY 1 billion in the future, getting off to a good start in investment attraction.

(Source: Beijing Daily)