Beijing added 7,035 projects to its "two zones" initiative project library in the first half of this year, as announced at a press conference on Aug. 17. This initiative seeks to establish both a comprehensive demonstration zone for expanding openness in the service sector and a pilot free trade zone (FTZ) in the city.

During this period, the city's actual utilization of foreign capital exceeded $9.9 billion, achieving 60% of the annual target. Within this, the actual utilization of foreign capital in the pilot FTZ made up 14.9% of the city's total. Additionally, the proportion of contracted foreign capital accounted for 26% of the city's total, highlighting Beijing's investment appeal.

Liu Meiying, full-time deputy director of the Leading Group Office of the "Two Zones" Development, stated that as Beijing enters the third year of this initiative, the focus will continue to be on institutional innovation, enhancing industrial parks, and attracting more projects.

Thanks to its high level of opening up, Beijing's science and technology innovation industry has seen accelerated growth. In the first half of the year, the number of certified foreign R&D centers reached 73. Deutsche Bank (China) Co., Ltd. and Societe Generale (China) Ltd. became the first foreign institutions approved to join the emission reduction support tool.

Leveraging the momentum from the "two zones" initiative, Beijing is actively positioning itself as a hub for elite talent. The city has made significant progress in optimizing its comprehensive services for international professionals. Notably, a pilot program identifying "scarce high-end foreign talents" has been launched, complemented by the expansion and refinement of channels for international talent recruitment.

The digital economy plays a crucial role in the initiative, registering growth of 8.7% to 918.05 billion yuan ($1.6 billion) in the first half of the year. This growth represents 44.5% of the total GDP, marking a 1.1 percentage point increase.

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