BUSINESS Beijing E-Town rolls out policies to support its pilot FTZ

BUSINESS

Beijing E-Town rolls out policies to support its pilot FTZ

China.org.cn

17:14, March 16, 2021

The Beijing Economic and Technological Development Area, also known as Beijing E-Town, recently rolled out a package of favorable measures to provide additional financial support to the high-end industries in its pilot free trade zone (FTZ).

File Photo: China Daily

The policy package consists of 30 specific measures and will provide 10 million to 100 million yuan in funding per project to support the area's leading industries, relevant R&D efforts, technological achievement transformation, and the building of relevant service platforms.

Beijing E-Town's four leading industries include new-generation information technology (IT), luxury cars and new-energy vehicles (NEVs), biotechnology and comprehensive health care services, as well as smart manufacturing. The policy package stipulates that the area will continue to make efforts on these four fronts. Meanwhile, Beijing E-town plans to improve its high-end service industry, promote the integration of its sci-tech and cultural sector, and focus on building its digital economy.

These 30 measures cover seven aspects concerning Beijing E-Town's future development. Specifically, that the area will be built into a new generation IT industrial complex with global influence, a core base for NEVs and luxury cars, a world-leading complex for a new-generation of innovative healthcare and service industries, and an application center for robots and advanced smart equipment. Beijing E-Town will also work to foster its service competitiveness in business and sci-tech.

Specifically, a 500-million-yuan fund will be set aside each year to attract talent in the fields of business finance and sci-tech. Support will also be provided to leading enterprises to encourage the sharing of key resources, the establishment of Internet Plus cloud platforms, and to help SMEs participate in sci-tech award competitions.

In addition, Beijing E-Town plans to support more than 10 advanced new-generation IT application projects every year and issue a maximum of 100 million yuan for each. A similar amount of funding will also be granted to national labs; a national innovation center for technological, industrial, and manufacturing; as well as leading enterprises for NEVs and luxury cars.

The policy package will further facilitate the high-quality development of companies in the area and contribute to the smooth running of the domestic economic cycle, says an official with Beijing E-Town. The area is expected to develop into a high-level opening-up platform for the coordinated development of Beijing, Tianjin, and Hebei.

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