Beijing promotes 57 key projects to private capital

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Beijing is seeking private investment in 57 key projects worth a total of 197.96 billion yuan (US$27.14 billion), according to the Beijing Municipal Development and Reform Commission.

The move came as part of the Chinese capital's efforts to steer private capital toward investment and involvement in the construction and operation of the city's key projects.

On the list of the projects are the comprehensive transportation hub project of Lize City Airport Terminal, the biopharmaceutical incubator project in Daxing district, and 55 other key projects.

The recommended projects include 11 for infrastructure, 20 for the high-tech sector, four for city renovation, seven for commercial services, nine for cultural, tourism, and sports sectors, and two for public services.

Among them are six projects with 100% private capital ownership and seven on a franchise basis.

To expedite the implementation of these projects, the authority will provide follow-up services and policy briefings and give investors better access to information of the projects, according to the Beijing Municipal Development and Reform Commission.

Since 2018, Beijing has established a long-term mechanism for promoting key projects to private capital, with nearly 980 projects introduced, involving a total investment of over 1.2 trillion yuan. In the first half of this year, 149 projects worth 130.8 billion yuan were promoted to the private sector.

"Project promotion has been instrumental in stimulating private investment in Beijing," said an official from the Municipal Development and Reform Commission. "It has provided a platform and expanded space for market entities to participate in the construction and development of the capital city."

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