170 foreign-funded major projects launched in Beijing

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Since the enactment of new measures to open up Beijing's services industry, significant numbers of initiative projects, milestone projects and major projects have been launched in the Chinese capital. They include more than 170 demonstration projects, according to the Beijing Municipal Bureau of Commerce. 

Among the projects is a wholly-owned subsidiary of the Society for Worldwide Interbank Financial Telecommunication (SWIFT), which is ready to open in Beijing. Another is the Meishen Diagnostic Imaging Center, which is on track to obtain all licenses needed for business by the end of October. It will become Beijing's first independent diagnostic medical imaging center.  

Statistics shows between January and August, 1,117 new foreign-funded enterprises have been established in Beijing, up by 7% year-on-year. The actual utilized value of foreign investment in the city amounts to US$10.27 billion, accounting for 11.5% of the total value in the country.  

According to the Beijing Municipal Bureau of Commerce, out of the 177 pilot tasks approved by the State Council, 95 tasks have been carried out. Moreover, Beijing has formulated a three-year plan with 190 innovative measures to further the reforms in eight major industries including technology, internet information, and finance.  

Of the 170 projects that have been launched this year, 108 projects have investments of more than 10 million yuan (around US$1.41 million) and 63 projects with more than 100 million yuan. Those led by industry leaders with international outreach and impacts, such as projects of Daimler (China) Commercial Vehicle Investment and Toyota Financial Services (China), as well as Ericsson's 5G mobile communication electromagnetic shielding laboratory project, have strong potentials to propel Beijing's economy forward. 

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