Beijing's investment promotion efforts in 2024 surpassed expectations, according to data released at the annual investment promotion meeting held in the Chinese capital on Wednesday.

The Beijing Investment Promotion Service Center said that the city's "Two Zones" initiative introduced 9,945 newly registered investment projects last year, with an estimated total investment of 1.02 trillion yuan ($140 billion). In addition, 1,375 new foreign-funded projects were registered, with 918 successfully launched, resulting in a 52.9 percent implementation rate, overshoot targets in multiple key metrics.

Investment projects from Beijing's strategic project reserve contributed significantly to the city’s economic development. These projects accounted for 12.5 percent of the city’s total fixed asset investment and 63.8 percent of its actual use of foreign capital. A collaborative effort between municipal and district authorities facilitated the implementation of 317 major projects. These projects included 261 domestic investment projects exceeding 1 billion yuan each, totaling 1.17 trillion yuan, and 56 foreign-funded projects above $50 million each, with a combined investment of $14.39 billion.

Beyond attracting investment, ensuring quality services for investors remained a priority. In 2024, Beijing advanced its service package initiative and the 12345 business service hotline, handling 2,305 corporate requests, with 1,899 successfully resolved. The 12345 hotline also received 254,600 business-related inquiries, achieving a 97.5 percent resolution rate and 98.6 percent  satisfaction rate. The 208 cases which were deemed to be complex were also addressed. To better serve foreign enterprises, Beijing enhanced regular communication channels with international business associations and foreign firms. The city held two high-level round-table discussions between municipal officials and international business associations, as well as two foreign enterprise forums, ensuring that all concerns and suggestions were addressed through a closed-loop resolution mechanism.

Over the past year, 200 well-attended investment promotion events were held in Beijing. Notable events included the Zhongguancun Forum’s “Invest in Beijing” Conference, the China International Fair for Trade in Services (CIFTIS) “Beijing Day” and Beijing-Tianjin-Hebei Investment Promotion Conference, and the 27th Beijing-Hong Kong Economic Cooperation Symposium and Hong Kong Investment Promotion Conference. As a result, contracts for 55 projects worth  122 billion yuan were signed while a further 602 new investment opportunities were discussed.

International outreach also intensified, with six overseas investment delegations visiting France, Germany, the UK, and other key markets, generating 15 investment leads. Targeted promotional activities in strategic regions yielded 19 additional project leads. To strengthen global investment channels, Beijing’s Investment Promotion Center established seven new domestic and international investment service stations, bringing the total to 88 worldwide, including 36 overseas locations. Five new institutions, including the European Business Consulting Center, were selected as official "Invest in Beijing" global partners, raising the total number to 25.

Beijing is set to continue its proactive investment promotion strategy in 2025, further enhancing its "Beijing Service" brand. Key initiatives include refining its "service package" and "service concierge" systems, ensuring full implementation of the Beijing Foreign Investment Regulations and the Business Environment Optimization Regulations. These measures aim to safeguard the legal rights and interests of foreign and private enterprises, reinforcing their confidence in Beijing’s business climate.

The city will also balance outbound and inbound investment strategies, with a strong focus on Europe, Southeast Asia and the Middle East. Proactive engagement with Middle Eastern investment institutions will be prioritized to attract investment in Beijing’s technological innovation enterprises and projects. Efforts will also be made to accelerate the development of a big data platform for investment promotion, facilitating the digital transformation of Beijing’s investment ecosystem.