How the Beijing-Tianjin-Hebei Initiative is Transforming Financing and Emerging Industries
The 2024 Beijing-Tianjin-Hebei Fund and Enterprise Financing Matchmaking Conference, held on November 12 in Beijing's Economic-Technological Development Area, marked a significant milestone in regional economic collaboration. At the event, 17 regional funds and 35 enterprises formalized agreements totaling RMB 3 billion in investments.
Under the theme "Integrating Financial and Technological Innovation to Empower Industrial Clusters," the conference introduced the Beijing-Tianjin-Hebei Investment and Financing Service Mechanism, a strategic platform aimed at harmonizing financial resources across the three regions.
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Enabling New Growth: Regional Funds and Enterprise Collaboration
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The matchmaking conference was not merely a showcase of agreements but a deliberate effort to accelerate the integration of capital, innovation, and industry. Focused on fostering Beijing-Tianjin-Hebei's six key industrial chains and five major industrial clusters, the event highlighted emerging sectors such as advanced manufacturing, biotechnology, and smart vehicles.
One notable outcome was the unveiling of the Zhongguancun Beijing-Tianjin-Hebei New Energy Vehicle (NEV) Industry Promotion Association, initiated by 63 key stakeholders, including leading automakers like Xiaomi, Li Auto, and Great Wall Motors. This association seeks to strengthen supply chain connections and establish the region as a global leader in advanced NEV manufacturing.
According to Zhang Xiyong, the association's inaugural chairman, this initiative will build on the region's complementary strengths and aim to deliver a world-class manufacturing cluster within the next five years. Efforts will focus on attracting major players, increasing local supply chain capacity, and driving forward NEV industry output to exceed RMB 1 trillion.
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Strategic Financing to Bolster Innovation
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The conference also featured a strategic agreement between the NEV Promotion Association and the Beijing-Tianjin-Hebei Coordinated Development Industrial Investment Fund, a state-backed initiative with an initial capital of RMB 4.15 billion. During the event, six projects secured investment commitments totaling RMB 1.46 billion, underscoring the region's ambition to anchor cutting-edge industrial hubs like the Beijing-Tianjin-Hebei Smart Connected Vehicle Tech Port.
The fund's impact extends beyond NEVs, with 17 funds supporting enterprises across diverse fields, ranging from robotics and AI to sustainable materials. For instance, Zhao Hongbo, CEO of Beijing Zhiyan Interconnect, highlighted the transformative potential of localized financing platforms, which have helped the company expand its intelligent steel solutions across the region's industrial landscape.
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A Pioneering Financing Ecosystem
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The launch of the Beijing-Tianjin-Hebei Investment and Financing Service Mechanism is pivotal. Spearheaded by governmental and industry leaders, this platform consolidates financial institutions, funds, trade associations, and innovation hubs into a seamless ecosystem, providing full-lifecycle support for enterprises.
As Zhou Hao, Deputy Director of the Coordinated Development Office, explained, the platform is uniquely designed to address systemic barriers such as high financing costs and limited access for SMEs. Leveraging tools like personalized listings at the Beijing Stock Exchange and specialized funding for hard-tech startups, the initiative facilitates the convergence of capital, innovation, and workforce networks.
Since its inception, the Beijing Stock Exchange has played a critical role in nurturing regional innovation. With 33 listed companies from the Beijing-Tianjin-Hebei region raising RMB 7.75 billion, its efforts have directly supported key sectors such as software services and medical manufacturing.
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Pioneering “Future Industries”
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This year's conference added a dedicated session on “Future Industries,” focusing on strategic fields like commercial aerospace, synthetic biology, and low-altitude economy. 10 enterprises engaged with 18 investment funds, showcasing the region's capacity to spearhead next-generation technologies.
Aiming to bridge funding gaps, policymakers are prioritizing long-term, patient capital to invest in early-stage, high-potential ventures. This forward-looking strategy aligns with national imperatives to create a high-quality growth engine while establishing the region as a pilot zone for modernized industrial ecosystems.
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Unlocking Beijing-Tianjin-Hebei's Economic Potential
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As Zhou Hao emphasized, the region is poised to drive innovation and industrial upgrading through initiatives like the “Six Key Chains and Five Major Groups” action plan. By addressing bottlenecks and strengthening critical supply chains, the three provinces are unlocking unprecedented synergies.
The Beijing-Tianjin-Hebei initiative is not just a regional collaboration but a blueprint for leveraging innovation and capital to drive national economic growth. With its robust financial frameworks and strategic alignment across industries, it is set to redefine the standards for regional economic integration in China.
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