Beijing recently formulated several policy measures to accelerate the development of new quality productive forces by leveraging government investment to stimulate additional social capital. The focus areas include constructing a high-level new infrastructure system, strengthening high-tech industries, and unleashing consumption potential.

At a press conference Thursday, Han Wei, deputy director of the Beijing Municipal Development and Reform Commission, announced that the city plans to invest over 10 billion yuan ($1.38 billion) to attract more private capital toward strategic emerging industries, cultivate future-oriented industries, and kick start the development of new quality productive forces.

According to statistics, Beijing's AI models account for half of all nationally registered AI models. "With the rapid development of AI technologies, there is an exponential growth in demand for intelligent computing power and high-speed real-time information transmission," said Zhong Nan, deputy director of the high-tech division of the municipal development and reform commission.

New policies will support transforming existing data centers into green, low-carbon intelligent computing centers. Major infrastructure projects can receive up to 50 million yuan in subsidies to enhance overall computing and communication capabilities.

To boost innovation infrastructure, Beijing will ensure the high-quality operation of national laboratories, support the construction of large scientific installations and interdisciplinary research platforms, and leverage the city's concentrated innovation resources. Projects led by enterprises or market-oriented research institutions focusing on interdisciplinary research platforms can receive up to 200 million yuan in subsidies.

To meet the demand for vehicle charging stations, the policy supports high-power charging facilities and vehicle-to-grid interactive charging projects, covering 30% of engineering investment costs.

High-tech industries are another key focus of the policy. In addition to supporting new use case scenarios of AI technologies, the policy also promotes innovative products such as new drugs, high-end medical device components, and smart connected vehicles. For these industrialization projects, the city offers up to 50 million yuan in subsidies.

During the May Day holiday, Beijing welcomed 16.97 million tourists, making it the most popular domestic tourist destination in China. The trend continued during the Dragon Boat Festival a month later, with 7.79 million visitors.

To meet rising demand for tourism, Ma Yanan, deputy director of the economic and trade division of the municipal development and reform commission, revealed that Beijing will support the construction of roads, parking facilities, and other municipal infrastructure in key tourist areas. The city will also enhance visitor service centers, improve smart management infrastructure, and provide facilities for public education and sports activities.

Moreover, the new policies support projects to enhance people's shopping experience, including building high-quality and distinctive pedestrian streets, as well as the green and low-carbon upgrades of existing exhibitions and convention centers, and their digitalized operations and management.

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