Beijing to raise 120 billion yuan for 61 projects

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The Beijing Municipal Commission of Development and Reform recently announced plans to raise 124.68 billion yuan (US$17.91 billion) for 61 projects, and that the sum will include 38.38 billion yuan in private capital. 

The private capital will contribute to 26 projects through equity investment mechanisms such as PPP (public-private partnership) and collaborative development, and to another 26 through debt investment. Details for the remaining nine projects are still under considerations.

According to an official from the Municipal Commission of Development and Reform, these projects are in line with the functional positioning of the capital: four in the core area of Beijing, one in the sub-center, 16 in downtown, 18 in the suburbs, and 22 in the ecological conservation area. Daxing district will have the highest number of projects and total investment with eight projects worth 45.1 billion yuan, followed by Shijingshan district with seven projects worth 32.2 billion yuan. 

The official said that these projects all have clear return on investment mechanism and huge potential for business model innovation. The 61 projects cover 10 key fields including housing, high-end service industry, urban renewal, culture and education, convenience business service, technological innovation, medical care and pension, environment protection, infrastructure, and leisure and tourism. 

The Beijing Municipal Commission of Development and Reform has long regarded expanding private investment as a key measure to stabilize effective investment, stimulate the vitality of market entities, and build an advanced economic structure. The commission launched 121 projects in December 2018 and July 2019 worth 190 billion yuan in total.

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