Emerging industries fueling Beijing’s economic expansion
New policies aimed at promoting investment, boosting tourism
Entering the new year, Beijing officials say China’s capital city is generating positive momentum in economic growth.
According to the Beijing Commission of Development and Reform, the city will release the inaugural edition of an industrial map during the first quarter. It will be comprised of more than 30 key industries, including high-tech and sophisticated sectors, modern service, future industries and modern infrastructure, and will outline their current status and layout to provide clearer instructions and guidance for local enterprises.
Beijing saw rapid development of new energy vehicles in 2023, including the launch of a green and intelligent Li Auto factory in Shunyi district, where more than 600 robots weld parts and assemble vehicles. This year, the city is expected to add a Li Auto parts production base, as well as a factory for Contemporary Amperex Technology, one of the world’s largest manufacturers of electric vehicle batteries.
In addition to expanding its EV sector, Beijing will strengthen investments in strategic emerging and future industries this year, with plans to build a medical and healthcare center in Zhongguancun, known as China’s Silicon Valley; a robot industrial park in Changping district; a new artificial intelligence public computing center; and a digital economy computing center. The city will also expedite construction of a semiconductor equipment research and development center for Naura Technology, and a biological information intelligent computing center in Daxing district.
During the first quarter, the city plans to issue nearly 30 policies and measures to expand consumption, promote investment, optimize the business environment, boost tourism, and accelerate development of high-tech and sophisticated industries like commercial aerospace, the commission said. Moreover, the 12345 corporate service hotline, unveiled on Jan 1, will expand the city’s capacity in handling appeals, providing value-added services and strengthening coordination between government departments.
As for key projects, Beijing’s subcenter Tongzhou district will continue to maintain an investment scale exceeding 100 billion yuan ($13.9 billion). By the end of the year it will be home to a comprehensive transportation hub for northern Universal Beijing Resort, and the first phase of Renmin University’s new campus. The subcenter will also commence construction of the Beijing Haichang Ocean Park.
The city’s downtown districts will focus more on old community renovations and urban renewal in industries, infrastructure facilities and public spaces. Related projects in the Xidan, Jishuitan and Jiuxianqiao areas are expected to achieve breakthrough progress, the commission said.
Other projects that will start construction this year include suburban railway loop lines in the city’s northeastern region, and the Beijing-Miyun expressway, which links BeijingPinggu expressway in the south and Miyun district in the north. Also, a Xiaomi park of future industries and its support innovation and research center, and a new material sci-tech industry base centering on the city’s petrochemical industry will be established to improve the capital’s capability in undertaking industrial transfers, the commission noted.