Investment promotion in the Integrated National Demonstration Zone for Opening up the Services Sector and the China (Beijing) Pilot Free Trade Zone (the "Two Zones") yielded good results in the first quarter. First, the number of new projects added to the project pool surpassed 3,000, representing a year-on-year increase of 258 percent and constituting 63 percent of the annual target. In addition, the projected new investment surpassed CNY 360 billion, reflecting a year-on-year growth of 156 percent and fulfilling 37 percent of the annual target.

Second, a group of landmark projects have been implemented. In Q1, a total of 45 major domestic-funded projects with investments exceeding CNY 1 billion were completed, with a combined investments of over CNY 190 billion. Furthermore, 11 foreign-funded projects with investments exceeding USD 50 million were landed, involving a total investments of more than USD 1.3 billion.

Third, investment promotion has been conducted actively. In Q1, Beijing and its districts cooperated closely to host 69 investment promotion events. Beijing Investment Promotion Service Center organized a series of investment promotion events themed "Vitality and Motivation of Opening up Beijing" to attract foreign investment, with a special focus on countries such as Germany, the United States, Japan, the Republic of Korea, and regions such as China's Hong Kong Special Administrative Region (HKSAR). Over 300 representatives in charge of enterprises and business associations participated in the event either online or offline.

Fourth, the investment attraction channels have been broadened continuously. In 2022, Beijing Investment Promotion Service Center selected eight institutions to become members of the first batch of "Global Partners of Invest Beijing". From the beginning of 2023, these institutions have actively participated in investment promotion events held in Mentougou and Fangshan districts and in activities such as the "Sino-British Intelligent Manufacturing Enterprises Visiting Beijing Economic-Technological Development Area". They also established a strategic partnership with the Green Partnership of Industrial Parks in China (GPIPC) to leverage channels and resources. The selection process for the second batch of global partners is currently underway.

Fifth, enterprises are benefiting from precise and efficient services, while the business environment is being continuously upgraded. In 2023, a total of 29,000 calls from enterprises were received, including 146 complicated and challenging work orders. Both types of requests were handled with a completion rate of 99.53 percent and 100 percent respectively.

Sixth, investment promotion policies were made to fine-tune accurate targets so as to bring out the vitality of investment promotion in different districts. Beijing's districts such as Fengtai, Shijingshan, Tongzhou, Shunyi and Daxing have improved incentive mechanisms for investment promotion based on their actual conditions and taken full advantage of policies to boost the vitality of investment promotion. In addition, a set of high-value policies have also played a vital role in encouraging all sectors of society to participate proactively in investment promotion.

(Source: Beijing Daily)