200 Beijing-based companies to operate in Hongqiao, Tianjin

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A total of 200 Beijing-based companies will set up operations in Hongqiao District of Tianjin Municipality, according to a promotional conference for boosting coordinated development of the Beijing-Tianjin-Hebei area.

The event witnessed 58 newly-contracted projects with an agreed investment volume of over 13 billion yuan (US$ 1.9 billion), Beijing Daily reported.

Over the past three years, after the flagship policy has been released to integrate Beijing, Tianjin and Hebei Province, Hongqiao District has been consistently improving its investment environment by cutting red tape, said Hui Liqun, vice head of the district’s investment promotion bureau.

“The district has a lot in common with Beijing and is complementary to its quality resources, so we can fully manage the integration procedures.”

Of the total investment volume set out at the event, almost 70 percent is from Beijing-based companies.

“Mass innovation and entrepreneurship has become a trend,” said Sun Huifeng, president of CCID Consulting, a Beijing-based firm.

Hongqiao District possesses strong geographical advantages and enjoys multiple government preferential policies, which are something we can take advantage of, he added.

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