Preface

Source:sw.beijing.gov.cn

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2019 is the 70th anniversary of the founding of New China and represents a new starting point for reform and opening up. With 40 years of reform and opening up, Beijing has not only developed itself but also benefited the world.

Over the past 40 years, Beijing has made great strides, doubling its GDP every five years on average, achieving double-digit annual growth of 10% and leading the country in terms of economic strength. In 2018, Beijing's GDP exceeded RMB3T and its total economic share of the entire country increased to 3.4%. Its per capita GDP reached USD21.3K, reaching the level of developed countries, ranking first in the country. Its total labor productivity amounted to RMB240K per capita, ranking the first place in the country. Over the past 40 years, Beijing's fiscal revenue has increased by more than 100 times, the total import and export volume has increased by more than 1000 times, the per capita disposable income has increased by nearly 200 times, the investment in urban infrastructure has increased by more than 500 times, the per capita green park space has doubled, and the esidential environment have been renewed.

Over the past 40 years, Beijing has made great efforts to achieve the transformation from industry-oriented to service-oriented, its advanced industries supported economy's high-quality development, and its economic structure leads the trend of national economic transformation and upgrade. In 2018, Beijing's service industry accounted for 81% of GDP, nearly 30% higher than that of the rest of the country, and its service trade accounted for about 1/5 of the whole country's service trade, leading the country's economic transformation. Beijing's industrial structure tends to be "advanced". Finance, information services and scientific and technological services have become an important driving force for the capital's economic growth, with a contribution rate of more than 60%. Beijing is one of the world's top ten financial centers and one of the world's top ten science and technology innovation centers, also the national financial decision-making center, regulatory center and the largest capital clearing center in China. It gathers more than half of the unicorn enterprises in China, representing one of the most innovative regions in the world.

Over the past 40 years, Beijing has been concentrating on building an all-round, multi-level and three-dimensional pattern of opening up to the outside world, actively serving the country's diplomatic tasks and actively participating in the world economic arena. As of 2018, more than 43K foreign-invested enterprises from more than 165 countries/regions have been established in Beijing, and the total actual utilization of foreign capital was nearly USD155.1 billion. Over the past five years, Beijing has attracted USD76.7 billion in foreign investment, accounting for 50% of the total since the reform and opening up. Beijing can be said to have a "strong magnetic field" in attracting foreign investment. Beijing has gathered 35,000 permanent foreign institutions, more than 4000 regional headquarters and R&D centers of multinational corporations, and 53 headquarters of the Fortune 500 enterprises, putting it in first place worldwide. Beijing has established friendly cities with 56 cities in 51 countries, covering five continents, and made investments in 31 countries as part of the "one belt and one road initiative", and has acted as the host city  for many international events such as the Belt and Road International Cooperation Summit, the 2022 Winter Olympics and the China International Services Trade Fair, etc. Beijing has taken various measures to realize both "importing from foreign countries" and "exporting to foreign countries.

Beijing has deepened its reform with respect to opening up to the outside world. Over the past 40 years, Beijing actively integrated into the world economy and carried out extensive international cooperation, as a result, many multinational enterprises have used Beijing as their preferred foothold to enter into the Chinese market. Beijing is also the most open city in China, the city with the best business environment and the most innovative city.

As the only apprehensive pilot city in China to expand and open service industry, Beijing has explored a complementary path of opening up and reform with FTA pilot zones. The three-year and two-round pilot mission contributed 68 national initiatives of opening up and innovation with the best results, and the pilot experience was replicated in four batches across the country. Beijing has successfully attracted the country's first foreign-controlled aircraft maintenance enterprise, the first foreign-controlled securities company, and the three major international credit rating agencies, which has enhanced its position as China's most attractive location for foreign enterprises to establish. In 2018, 1548 foreign- invested enterprises were set up in the service industry, accounting for 94.5% of the city. The actual utilization of foreign capital in the service industry amounted to USD 14.86 billion, accounting for more than 85% of the city's total foreign investment and its service trade percentage over the total of its foreign trade volume reached 28%.

The reform of Beijing's business environment has made breakthrough progress thus bringing about practical convenience to enterprises registered in Beijing. According to the World Bank report "Doing Business 2019", China's ranking rose from 78th to 46th. Beijing, as one of the two model cities, has sample outstanding contributions. In 2018, the National Development and Reform Commission (NDRC) conducted a business environment assessment of 22 cities in China from the dimensions by measuring the whole life cycle of enterprises, reflecting the attractiveness of urban investment and the level of high-quality urban development,  as the result, Beijing ranked first and was also one of the two cities in the world without charging any fees for business establishment.

Forty years of reform and opening up showed the pride of Beijing. According to the Ranking of World Cities 2018 published by GaWC, one of the world's most authoritative urban research institutes, Beijing was ranked among the top four first-class cities in the world. Towards a new era, Beijing's great ambition is ready for launching. In 2019, Beijing will continue to vigorously strengthen the functional construction of the "four centers", strive to promote the coordinated development of Beijing, Tianjin and Hebei, build high-quality urban sub-centers, deepen docking and support Xiong'an New District, improve the functions of Beijing Daxing New Airport, fully prepare for the tasks of the "Two Olympic Games", comprehensively promote the opening of the service industry to 3.0, and create an international first-class, harmonious and livable preferred area. Beijing will continue to play a good role as the primary window to show the world the achievements of reform, opening up and modernization. With greater courage and wisdom, the new era of reform and opening up will take root in Beijing and China!

The Beijing Foreign Investment Development Report 2019 reflects the efforts and achievements made by Beijing in promoting and protecting foreign investment over the past years. It also demonstrates Beijing's determination and strength to continue opening up and actively attract foreign investment. It is hoped that investors at home and abroad will continue to understand and support Beijing through the Development Report and discover new opportunities in Beijing seeking common development brilliant future together with Beijing!