Beijing's economic-tecnological development area Q1 sees actual FDI use at USD224.72 million

Beijing saw 18 foreign-funded enterprise settle in its economic-technological development area, Beijing's high-tech hub, in the first three months of the year, and its actual use of foreign direct investment (FDI) amounted to 224.72 million U.S. dollars in the period, official data showed recently.

Thanks to Beijing's supportive policies, well-known foreign enterprises including the French industrial group Schneider Electric have realized high-quality development and continue to increase investment in the area.

To be specific, the policies benefiting foreign-invested enterprises in the area mainly include the talent development special fund of 1 billion yuan set up by Beijing every year, and giving green light to foreign-funded enterprises to launch major projects by offering equity investment and fund investment.

Schneider Electric confirmed last year that it will locate the global Research and Development (R&D) and manufacturing center of the middle voltage ring network cabinet in the area.

Efforts will be taken to attract more foreign invested projects by innovating investment attraction, establishing policy support and improving services in the area, according to the relevant person in charge of the area.

It is noted that five major projects from the world's top 500 enterprises settled in the area in 2020, covering the fields of biomedical, intelligent manufacturing, new energy vehicles (NEV), and finance.

In addition, local financial institutions in the economic technological area also provide convenient cross-border financial services for the foreign-investment firms, such as reduction of financing costs and instant cross-border foreign currency loan business.