Beijing's accumulated outbound investment has exceeded $34 billion over the past five years, said Dai Ying, vice director of the municipal commission of development and reform, at the Beijing International Investment Cooperation Seminar Conference held Wednesday.

According to the data released at the conference, Beijing's foreign trade totaled 14.6 trillion yuan ($2.13 trillion) over the last five years. The total value of foreign trade hit a record 3.6 trillion yuan in 2022, up 19.8% year on year. 

Moreover, over the past five years, Beijing's trade structure has continuously been optimized as the annual growth rate of export value of independent brands and intellectual property industries exceeds 10%; the city's utilization of foreign capital has further improved as over $75 billion of foreign investment was utilized from 2017 to 2022, 1.2 times the amount five years ago. 

Dai also introduced a number of international projects undertaken by Beijing-based enterprises. Over the past five years, the total value of overseas projects contracted by Beijing-based companies reached $20.8 billion, delivering tangible benefits to the local people, she said. 

Over the past five years, Beijing's outbound investment exceeded $34 billion, covering a total of 139 countries and regions. Meanwhile, the city has expanded its outbound investment to include all 18 industries in the national economic statistical system.

In a bid to deliver a more optimized business environment for enterprises, Beijing has constantly improved its international commercial legal services. The city boasts over 2,000 law firms with over 30,000 practicing lawyers. Notably, Beijing is home to the highest number of international lawyers in China.

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