Beijing's Sub-Center Accelerates Growth: 730 New Projects Drive Economic Momentum
Beijing's urban sub-center has emerged as a key economic hub, adding 730 projects under the “Two Zones” framework by October. These initiatives focus on green finance, wealth management, urban tech, and professional services, showcasing Beijing's efforts to build a global, business-friendly environment.
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Key Projects and Foreign Investment
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In February, Sunlight Digital Technology Co., Ltd., a subsidiary of Sunshine Insurance Group, launched operations in the Financial City. "The local government's proactive support and streamlined services enabled our swift setup," said Yang Fengyu, Assistant General Manager. Sunlight Digital leads in big data and AI-powered insurance solutions, fostering 200 innovations across 12 scenarios through alliances with 72 firms.
Foreign companies like Slovenia-based Dewesoft have also invested in the sub-center. Dewesoft established its Chinese headquarters in Tongzhou's Canal Business District in May, benefiting from simplified policies and faster supply chains. This year, the sub-center welcomed 145 new foreign-invested enterprises, a 90.79% increase.
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Institutional Innovation and Collaboration
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The sub-center introduced 20+ reforms, with six recognized nationally and 10 awarded regionally. Policies like “Same Standards, Simultaneous Processing” unify 179 administrative services across Beijing, Tianjin, and Hebei, creating a replicable governance model.
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Citywide Impact of “Two Zones”
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Beijing's “Two Zones” initiative has launched 20,000 projects, drawing RMB 4 trillion in investments. In 2024, 5,614 new projects brought in over RMB 864 billion. Major entrants include Mastercard, Steptoe China, and Eli Lilly. The financial sector grew 6.6% in Q3, contributing over 20% to Beijing's GDP.
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A Global Business Ecosystem
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Beijing's pro-business measures, such as raising tax-exempt thresholds for technology transfers and digital RMB adoption, foster innovation. With robust reforms, significant foreign investment, and groundbreaking projects, Beijing's sub-center sets a benchmark for integrated, international economic growth.
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