Beijing is reinforcing its status as a leading global science and technology capital by attracting substantial foreign investments and fostering innovative collaborations.
At the recent Invest Beijing Conference, a supplementary event to the 2024 Zhongguancun Forum (ZGC Forum), deals totaling over 61 billion yuan (approximately $8.58 billion) were signed across 23 major projects. These initiatives span 11 industrial sectors, with a significant focus on science and technology solutions for public welfare, including carbon neutrality, medical health, and clean energy, which alone accounted for 20.92 billion yuan.
A highlight of the conference was the unveiling of the Zhongguancun Science City, Malaysia MRANTI Science and Innovation Cooperation Platform. This partnership aims to advance park construction, innovate ecological systems, and incubate sci-tech enterprises. Chang Lih Kang, Malaysia's minister of science, technology and innovation, emphasized the deepening ties between Malaysia and China in key areas like the digital and green economies, modern agriculture, and biomedicine.
The conference also announced 231 investment projects in advanced and emerging industries such as information technology, intelligent manufacturing, integrated circuits, artificial intelligence (AI), and green energy, with a combined value nearing 90.22 billion yuan.
Stephen Perry, president emeritus of Britain's 48 Group Club, highlighted the transformative impact of AI, big data, and the internet on human services and manufacturing. He noted that despite geopolitical challenges, Beijing remains an attractive destination for multinational companies looking to develop products efficiently.
Irene Pivetti, president of the Italy-China Friendship Association, echoed this sentiment, pointing out China's significant investments in high-tech development as a major draw for technology companies seeking innovation.
Beijing boasts around 100 colleges and universities, over 1,000 scientific research institutions, and approximately 28,200 high-tech enterprises, including 114 unicorn companies as of last year. In 2023, actual utilized foreign direct investment reached $13.71 billion, with 42.4 percent directed towards scientific research and technical services.
Jane Yang, managing partner of Ernst & Young Beijing Office, stated that scientific and technological innovation is Beijing's key advantage in attracting foreign investment. She highlighted the city's role in offering broad opportunities for global capital in sci-tech cooperation, emerging high-tech industries, major sci-tech projects, and the transformation of scientific achievements.
Looking ahead, Beijing is exploring new avenues for integrating the capital market with sci-tech innovation, aiming to create a harmonious ecosystem that provides diverse investment channels and opportunities for global capital.
\"China should do more promotion about the opportunities to invest in China, in particular in its capital,\" Pivetti added, underscoring Beijing's significant role and promising future in the global sci-tech landscape.
Reference(s):
Beijing remains global sci-tech capital magnet with innovations
cgtn.com
