Beijing E-Town pulls out all the stops to attract top businesses

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chinadaily.com.cn

Oct 21, 2022, 22:04 ET

BEIJING, Oct. 21, 2022 /PRNewswire/ -- A news report from chinadaily.com.cn

The Beijing Economic-Technological Development Area, also known as Beijing E-Town, has been ramping up efforts to foster strategically important industrial clusters that represent the latest in the science and technology world. The goal is to build itself into a hub of high-tech industries with international influence.

Beijing E-Town steps up efforts to turn itself into a smart city

Beijing E-Town saw its gross industrial output value reach close to 600 billion yuan ($86 billion) in 2021, ranking first in the city.

High-tech industries, represented by new-generation information technology, high-end automobiles and intelligent manufacturing, contributed more than 90 percent of the gross industrial output value.

At the opening ceremony of the Beijing 2022 Winter Olympic Games, an 8K ultrahigh-definition ground display system, the largest of its kind in the world, demonstrated the abilities of Chinese technology to viewers across the globe.

"The core technologies of the world's largest display are in our hands," said a representative of BOE Technology Group, China's leading liquid crystal display panel maker based in Beijing E-Town.

In 2021, BOE's LCD shipments for five major application scenarios, which were smartphones, tablets, laptops, monitors and televisions, all ranked first in the world.

"In the last 10 years, Beijing E-Town focused on critical strategic needs, accelerated research into key technologies and achieved major breakthroughs in cutting-edge technologies and industries of strategic importance," said a Beijing E-Town official.

Beijing E-Town had been a cradle of innovative products and technologies for the past 10 years. As of the end of 2021, high-tech companies in Beijing E-Town delivered 96.7 percent of the area's total industrial output value.

In 2021, the number of national-level "little giants" based in Beijing E-Town ranked first among more than 200 national economic development zones in the country. To be called a "little giant", a Chinese company must see a minimum 5 percent year-on-year average growth rate of its main business income or net profit in the past two years.

Beijing E-Town is turning into a magnet for high-end resources from across the globe, with local industries moving toward the higher end of the global value chain.

Four new production lines of German pharmaceutical company Bayer in Beijing E-Town are under construction. When put into operation, the fully automatic high-speed production lines, coupled with fully automatic logistics systems, are set to increase production capacity by 40 percent and help build a world-class manufacturing factory.

During the past decade, an increasing number of multinationals have chosen to set up their latest and most advanced production lines in Beijing E-Town. To date, Beijing E-Town was home to some 140 projects backed by more than 90 Fortune Global 500 companies.

Beijing E-Town is the first in the city to carry out the administrative reform that involves the entire administrative management chain ranging from approval to supervision and enforcement. The move has realized "one seal for examination and approval, and one team for law enforcement" and enabled further improvement in administration efficiency.

SOURCE chinadaily.com.cn