By outdoor-nature-child.com On October 25th, during an interview with a representative from the Beijing Development and Reform Commission, it was disclosed that the city has placed a strong emphasis on expanding effective investments over the first three quarters of the year. The focus has been on the construction of major projects, optimizing the investment structure, and reforming the investment and financing system. These efforts have led to a significant qualitative improvement in investment and a rational growth in volume, which effectively supports the high-quality development of the capital’s economy and society.
The official noted that out of 120 planned new projects for the year, 86 have already begun construction, which is 11 more than the same period last year. The major city projects supported by the “three 100” key engineering initiatives have consistently accounted for over 30% of the city’s investment. Additionally, all 480 major city and district projects that have been pushed forward in a staggered manner have started construction, with a total investment exceeding 520 billion yuan.
Several significant projects, originally scheduled to break ground in the fourth quarter, including the China Academy of Information and Communications Technology Innovation Base and the first phase of the new campus of the Capital Sports Institute, have commenced early. Notable ongoing projects like the G109 New Line Expressway and the Beijing Junying Pharmaceutical Industrial Park have successfully completed construction.
With the boost from these major projects, Beijing’s fixed asset investment saw a year-on-year increase of 7.8% from January to September, outperforming the national figure by 4.4 percentage points. Investment in equipment acquisition surged by 34.1%, exceeding the national growth rate of 17.7%. Construction and equipment acquisition investments accounted for 54.1% of total investments, a 1.5 percentage point increase compared to the previous year, demonstrating a key role in the economic rebound.
The representative highlighted an impressive performance in the leasing and business services sector, with investments increasing by a striking 109.5%. Over the same nine-month period, investments in the manufacturing sector and software information services rose by 44% and 33.8%, respectively, both surpassing national averages.
Significant projects in the “Three Cities and One District” area are picking up pace. The Tencent Knowledge Garden in Zhongguancun Science City has begun construction, and all civil engineering work for 29 facility platforms in Huairou Science City is complete, with 20 platforms entering research phases. Moreover, the main structure of the International Bioengineering Innovation Center in the Future Science City has reached completion, while the Beijing Rocket Street project—China’s first commercial space research and production base—has also officially begun.
In the realm of advanced manufacturing, several projects have gained momentum, including the production of high-performance solid-state lithium-ion batteries and the industrialization of third-generation semiconductor silicon carbide substrates. Initiatives aimed at modern service industries continue to enhance capacity, with the main structure of the Yongfeng Digital Sharing Center completed and the National Financial Information Building in the Lize Business District inaugurated.
The official emphasized the ongoing construction of major projects such as the G108 New Line Expressway. They stated that throughout the third quarter, Beijing has actively pursued post-disaster recovery and resilient urban development, focusing on building a modern infrastructure system. Infrastructure investments surged by 22.2%, reflecting the city’s determination to enhance its foundational capacities.
The city has adhered to high standards in disaster recovery, achieving the goal of “restoration within a year.” Key rivers like the Yongding and Juma have seen their flood capacity restored and even improved compared to pre-disaster levels, ensuring safety ahead of the 2024 flood season.
In terms of public services, substantial investments have been made to optimize access to quality education and healthcare. Projects such as the expansion of the Beijing University of Technology Liangxiang Campus and the construction of various new schools are advancing quickly. The distribution of quality medical resources in Beijing is becoming more balanced, with major hospitals expanding their services.
The official concluded by stating that in the fourth quarter, Beijing will continue to focus on implementing major projects, strengthening investment and financing services, and ensuring that effective investments are expanded, all aimed at fulfilling the annual economic and social development objectives.