Beijing launches key private sector projects

In order to further promote private investment, Beijing publicly introduced 93 key projects in the private capital sector, with a total investment of approximately 71.3 billion yuan ($9.77 billion), which is expected to attract private investment of about 38.7 billion yuan, the Beijing Municipal Development and Reform Commission announced on Friday.

This brings the total investment in projects introduced throughout this year in Beijing to more than 270 billion yuan, according to the commission.

Looking ahead to 2025, the commission will continue to vigorously promote private investment, facilitate channels and ensure that the total investment in key projects introduced to private capital next year remains at no less than 200 billion yuan.

The 93 key projects introduced this year cover nine areas, including technological innovation, business services, infrastructure, advanced manufacturing, public services, culture and tourism, sports, agriculture and housing construction.

Earlier this week, the commission reported that from January to November this year, the city's investment has increased by 5.6 percent year-on-year, with a growth rate 2.3 percentage points higher than the national average, indicating a steady increase in investment scale, supporting the recovery and improvement of the economy.

In 2024, Beijing has been strategically focusing on promoting the integration of innovation chains and industrial chains, actively driving digital and green transformation and upgrading, and the convergence of advanced manufacturing and modern service industries.

Efforts have been concentrated on expediting the implementation of strategic emerging industries and future industrial projects such as the Beijing Artificial Intelligence Innovation Park, with investments in high-tech manufacturing and high-tech service industries growing by 60.2 percent and 30.5 percent, respectively.