Beijing's strategic emerging industries grew 14% in the first three quarters of 2024, underscoring the role of new quality productive forces in the city's economic development.

Several key factors have driven Beijing's economic expansion, including investments in technological infrastructure and high-tech industrial projects. The city has also successfully implemented innovative projects in artificial intelligence and commercial aerospace.

The Beijing Institute of Economic and Social Development reports that high-tech industry investment has grown by 27.5% annually since 2020.

This momentum spans multiple sectors, with new energy vehicles, integrated circuits and smartphone production all recording double-digit growth.

Beijing has implemented nearly 60 pioneering national policies under its "Two Zones" initiative to boost innovation. The new Zhongguancun Comprehensive Bonded Zone enables duty-free research and development of imported materials, cutting costs for enterprises and speeding up tech innovation.

The city has also established the Beijing E-Town Comprehensive Bonded Zone to advance new quality productive forces.

Beijing has established eight government investment funds worth hundreds of billions of yuan to support innovative enterprises and attract private investment.

As of the end of September, Beijing's early-stage venture capital and private equity investment totaled 925.8 billion yuan, up 27.4% year on year. The city maintained this double-digit growth throughout the year, ranking second nationally.

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