Beijing's 'Two Zones' Exceed Investment Targets for 2023

In 2023, Beijing's "Two Zones" (the Integrated National Demonstration Zone for Opening up the Services Sector and China (Beijing) Free Trade Zone) attracted more investment than originally planned, with 11,000 new projects inventoried and implemented, representing a growth of 93 percent year on year. This achievement results in an updated forecasted investment of CNY 1.3 trillion, indicating a year-on-year increase of 24 percent. In all, 8,512 projects were successfully brought to fruition, leading to an implementation rate surpassing 60 percent.

Beijing Investment Promotion Service Center recommended 146 projects to Beijing's districts and Beijing Economic-Technological Development Area, 37 of which were successfully implemented to the tune of CNY 10.67 billion. Two batches of key investment projects in the "Two Zones" were announced and major projects received a boost with the establishment of a joint project team to enhance promotional efforts.

The city also witnessed the expansion of its global network of investment partnerships, with 12 new institutions joining the fold, including HKCCC, JLL, Deloitte, and Yingke Law Firm, bringing the total up to 20. Global partnership events were held in Fangshan, Changping, Daxing, Dongcheng, and Beijing Municipal Administrative Center to facilitate collaboration between the partners and districts of Beijing, and over 300 companies were invited to participate in various investment promotion activities across the city.

An agreement was signed with the World Association of Investment Promotion Agencies (WAIPA) and connections were established with business associations in 17 developed countries and regions, including the Sino Europe Investment Promotion Association (SEIPA), and four overseas investment promotion institutions, such as BWA Deutschland, further expanding investment channels abroad.

Regular communication was well enhanced between Beijing and international business associations as well as foreign-funded enterprises in the city. A forum was organized for the municipal government to meet with these associations and enterprises, and efforts were made to respond to their needs and suggestions with the assistance of the relevant authorities. Field trips were made to the Thai Chamber of Commerce in China and the Swiss-Chinese Chamber of Commerce, among other institutions, and more than 10 exchanges were held with various business associations. In addition, meetings were held between Beijing's government officials and the top executives from 15 global companies including Philips and Boston Scientific, to open up better communication channels between the businesses and the municipal government.

The 26th Beijing-Hong Kong Economic Cooperation Symposium wrapped up with the signing of 34 projects, including those of the second phase of INDIGO and the Image Computing Power Center, together worth USD 9.43 billion. The inaugural Invest Beijing Global Summit was held during the annual Zhongguancun Forum, resulting in the signing of 39 major projects totaling CNY 60.8 billion. Ten bilingual policy service packages, including the one for the construction of an international science and technology innovation center, were released during the summit and received positive reviews from the business community. Two investment promotional events for the Beijing-Tianjin-Hebei region, namely the Beijing-Tianjin-Hebei Collaborative Investment Promotion and "Invest Beijing" Global Summit, were held during CIFTIS's "Beijing Day", with the 51 major projects signed, worth a total of CNY 104.55 billion, and strategic cooperation agreements reached between the investment promotion agencies in the three administrative divisions.

(Source: The Beijing News)