Beijing's 'Two Zones' Welcome 7,035 New Projects in H1 2023
Across the National Integrated Demonstration Zone for Opening up the Services Sector and the China (Beijing) Pilot Free Trade Zone (the "Two Zones" for short), 7,035 new projects were introduced in the first half of 2023. This represents a year-on-year growth of 208.1 percent. Notably, 4,430 of these projects have already been implemented, accounting for 63 percent of the total number, a figure that surpasses the annual goal by 23 percentage points.
In the first half of 2023, the actually utilized foreign investment reached USD 9.9 billion, achieving 60 percent of the annual goal. Notably, the China (Beijing) Pilot Free Trade Zone contributed to 14.9 percent of Beijing's total figure for realized foreign investment, while the amount of registered capital that foreign investors are required to contribute as per the contract (articles of association) of a foreign-funded enterprise reached 26 percent. These statistics demonstrate Beijing's escalating appeal as a prime region for foreign investors.
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