A total of 13 key projects were recently signed in Beijing's Haidian district to shore up the construction of the capital's pilot free trade zone and national integrated demonstration zone, also known as "the two zones." It is hoped that the signings will help the city further open up its service sector.

The 13 companies involved include the Fortune 500 company Xiaomi Corporation, the unicorn enterprise ByteDance, the centrally administered SOE China Grain Reserve Group Ltd. Company, as well as a number of well-known financial institutions and domestic high-tech enterprises. Those include Sangfor Technologies, Xinnaxin Technology, and PIESAT International Information Technology Limited.

Relying on its extensive resources and solid industrial foundation in the fields of artificial intelligence (AI), integrated circuit design, and high-end intelligent manufacturing, it is hoped that Xiaomi Corporation will play a demonstrative role and further improve the district's supply chain and electronic information industry by providing a robust industrial innovation platform. Meanwhile, ByteDance Beijing branch will configure a number of its core businesses in the district and will increase investment in areas including education, medical care, e-commerce live streaming, and technical services.

Lu Tao, general manager of Graphcore China, the China branch of British semiconductor company and developer of accelerators for AI and machine learning, said that Haidian is doing great in terms of attracting talents, scientific research institutes, and boosting the industrial ecology. "I hope that by landing in Haidian, our company can grow together with China's AI ecosystem," Lu said. The unicorn company has established its Chinese headquarters in Haidian and will formally settle this summer before accruing an estimated workforce of 100 by the end of this year.

In the future, Haidian district will cooperate closely with these enterprises to provide them with more space for construction of their headquarters and R&D centers and provide additional policy incentives for funding, talents, and housing.

At present, major progress has been made in Haidian concerning the construction of the "two zones," including the completion of 12 of its 84 policy initiatives for promoting the area. In January, the Haidian portion of the China (Beijing) Pilot Free Trade Zone had a total of 180 newly registered enterprises, of which 177 were domestic enterprises and three were foreign-funded.

The Party Secretary of Haidian District, Yu Jun, said the district will continue to leverage its "two districts" policy advantages and the Zhongguancun Science Park to facilitate trade and investment, accumulate more experience that can be applied in opening up the service sector, and build a higher-level open economy. Through these efforts, Haidian intends to spearhead a demonstrative role for the opening up and innovative development of the service sector across the capital.

Related

Go to Forum >>0 Comment(s)