Chaoyang District Speeds Up 'Two Zones' Development
In January 2023, Chaoyang District was home to 26 new foreign-funded enterprises. Actually utilized foreign investment reached USD 190 million in the district, increasing by 32.3 percent year on year.
Chaoyang District is one of Beijing's first groups of integrated pilot demonstration zones for opening up the services sector. After becoming a part of the China (Beijing) Pilot Free Trade Zone's International Business Services Area, Beijing CBD has built an international investment attraction system and started to establish global investment liaison stations. The district accelerated its global investment attraction over the past two years as more investment liaison stations were set up in countries such as Singapore and cities such as Shanghai, Hong Kong SAR, Guangzhou, and Shenzhen.
From the beginning of 2023, the district highlighted the facilitation of investment, trade, and balance of payments to explore enterprises' demands actively and implement investment promotion projects. Another 118 projects were added to the district's database, accounting for 23.6 percent of the annual target in 2023. Among the newly added projects, 39 have been implemented, and 79 are underway. Expected investments brought by existing projects totals CNY 110.93 billion, and new projects CNY 26.72 billion which accounts for 26.7 percent of the expected investment target.
As for the next step, the district will formulate and implement a 2.0 version of the "Two Zones" development plan, adopting pilot institutions such as rules, regulations, management and standards to promote opening-up. The district will establish new investment liaison stations in Europe and Japan to build a vital platform for China's opening-up and foreign enterprises' access to the Chinese market.
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