The headquarters of Xiaomi Auto is located in Beijing, the Beijing Stock Exchange Co., Ltd. is registered and established, and various rules are formulated and system preparations are intensively carried out… Beijing is “moving” at an ultra-fast speed, what is happening in Beijing?
Didn’t Beijing say that it wants to build a “political center, cultural center, international exchange center, and scientific and technological innovation center”? Why are there so many major economic moves and positives all of a sudden?
In fact, on August 11 before that, the Beijing Municipal People’s Government issued a notice on the “Beijing’s “14th Five-Year Plan” Period High-tech Industrial Development Plan”, which clearly disclosed the following information and goals:
The main goal in 2025: the foundation of the real economy represented by high-precision and advanced industries is more stable, and a modern industrial system with intelligent manufacturing, industrial Internet, medical and health as new pillars is basically formed, and integrated circuits, intelligent networked vehicles, block Chain, innovative drugs, etc. have become new business cards of “Beijing Smart Manufacturing” and “Beijing Service”…
There is a deep meaning behind Beijing’s emphasis on “high-end, sophisticated”.
01Beijing’s economy is “reverse growth”
Beijing is the first engine of the northern economy and the super-large engine of the Chinese economy. Under the complex international situation and under the premise of “internal circulation”, Beijing must be a “political center, cultural center, and international exchange center.” “However, economic development must also not be relaxed for a moment, and it must not be slack for a moment.
Beijing’s report card in the first half of the year is very good: among the four first-tier cities, the growth rate is the second, second only to Guangzhou, with a year-on-year growth of 13.4%, and the growth rate “outperforms” the national average (12.7%).
What is the base disk? The key industries have consolidated the foundation of economic recovery, and the pharmaceutical and Electronic industries in the industry have contributed more than 80% to the growth of industries above designated size. In the service industry, the information service industry, the financial industry, and the technology service industry have contributed more than 50% to the growth of the service industry.
The added value of the new economy accounts for 40.9% of GDP, and investment in new infrastructure and emerging consumption are growing rapidly.
Therefore, everyone calls it “Old Beijing”, which refers to culture and history. Economically, Beijing is not old at all. In fact, it is just a prime age, and because the “metabolism” is very strong, it is completely “reverse growth”.
This kind of “reverse growth” is achieved through reduction. During the “13th Five-Year Plan”, the scale of Beijing’s resident population and the scale of urban and rural construction land have changed from increase to decrease, that is, “double decline”.
In the case of “double drop”, what does Beijing rely on to achieve economic growth?
Beijing says I want to build a “Science and Technology Innovation Center”!
So, what is the basis for Beijing to build a “science and technology innovation center”? We still have to speak with data:
In the “2020 China Hard Technology Innovation White Paper”, Beijing’s hard technology index is 84.04, far ahead.
Urban Hard Technology Innovation Index
▲ Source: “2020 China Hard Technology Innovation White Paper”
Beijing has 185 central-level scientific research institutes and 38 central-level universities, as well as more than 100 national key laboratories and more than 60 national engineering technology research centers.
Zhongguancun has become the starting point of scientific and technological innovation, the source of original innovation, and the main position of independent innovation. In 2017, Zhongguancun focused on 8 frontier areas around artificial intelligence, high-end chips, big data, medical health, new materials and intelligent manufacturing.
As of 2019, Zhongguancun has 81 “unicorn” companies, ranking second in the world, second only to Silicon Valley in the United States. There are 16,000 national high-tech enterprises, and more than 50 new technology enterprises are established in Zhongguancun every day. 40% of the country’s venture capital is active in Zhongguancun, which is second only to Silicon Valley in the United States.
Therefore, when tourists and people outside Beijing talk about Beijing, it may be Tiananmen Square and the Great Wall, but people in the technology industry know that Beijing is the No.
Beijing ranks first in the country in many indicators, such as “the proportion of employees in high-tech zones”, “the proportion of R&D investment in GDP”, “the number of high-tech enterprises”, “the number of enterprises on the Science and Technology Innovation Board”, and “the number of enterprises on the ChiNext”.
02 It is not surprising that Xiaomi Auto settled in Beijing
Xiaomi’s headquarters in Beijing, of course, is a factor that the local government strongly invites.
But Beijing’s own technological ecology and business environment are also what Lei Jun values. Standing on the shoulders of a giant city with intensive scientific and technological resources, it is easier to achieve things, it is easier to obtain talents, and it is easier to make the industrial chain run quickly and smoothly. This is a simple truth.
What’s more, Beijing has a good understanding of its own shortcomings:
“There is still a gap between the comprehensive strength of Beijing’s high-end industries and the capital’s high-quality development requirements: the core competitiveness of advanced manufacturing is not strong, and the support for the construction of the city’s international science and technology innovation center and modern industrial system is not enough; innovation from scientific research and development to implementation and transformation is not enough. The closed loop has not been fully opened, and the sustainable development of high-precision industries is insufficient; the potential of industrial data empowerment and intelligence improvement has yet to be tapped, and the potential energy for the multiplication and development of new industries and new formats is not released enough; the problem of ‘stuck neck’ in the industrial chain and supply chain still exists. The vitality and resilience of the industrial chain need to be improved.”
Beijing is not perfect. Since there are still shortcomings, work hard and strive for the landing of high-quality enterprises. Through the normal operation of high-quality enterprises, it is a natural path to gradually fill in the shortcomings.
What’s more, “intelligent connected car” is a characteristic and advantageous industry that Beijing wants to build, and it is a “new business card”, and it strives to exceed 700 billion yuan in output value of the automobile industry by 2025.
Taking various factors together, it is not surprising that Xiaomi’s headquarters is located in Beijing. Xiaomi’s operation in Beijing has been good, the relationship between the two parties is harmonious, and Xiaomi is obviously satisfied with the business environment in Beijing. Xiaomi Automobile Co., Ltd. has now completed industrial and commercial registration with a registered capital of 10 billion yuan. Lei Jun personally serves as the legal representative of the company. The registered address of Xiaomi Automobile Co., Ltd. is Beijing Economic and Technological Development Zone.
However, the headquarters is located in Beijing, and some R&D or manufacturing may also be located in other cities, such as Shanghai or Wuhan.
The reason why Xiaomi has attracted so much attention is because many people have always believed that Beijing is controlling or reducing manufacturing. The establishment of Xiaomi’s headquarters is a shock to those who hold this view, even subversive.
In fact, Beijing has already shown its trump card in the “14th Five-Year Plan”:
By 2025, the added value of Beijing’s high-tech industries will account for more than 30% of the regional GDP, the number of trillion-level industrial clusters will be 4 to 5, and the added value of the manufacturing industry will account for about 13% of the regional GDP, and strive to reach 15%. Around, the software and information service industry has a revenue of 3 trillion yuan, and the number of new advanced manufacturing enterprises above designated size has reached 500…
Beijing’s manufacturing industry will not be weakened, but even strengthened.
03Beijing benchmarks against the world’s top financial cities
Recently, news about the Beijing Stock Exchange has been attracting public attention.
Previously, many people believed that Beijing placed more emphasis on the functions of politics, culture, and international exchanges. Although it mentioned the scientific and technological innovation center, it did not mention finance. Therefore, the emergence of the Beijing Stock Exchange shocked many people.
However, everything is actually in the ecosystem: strengthening financing functions, activating financial transactions, and technological innovation, the establishment of Xiaomi Auto, and the rapid development of the manufacturing industry are inextricably linked.
The improvement of manufacturing or technology companies requires not only the cooperation of the business environment but also the cooperation of the financing environment.
Beijing’s financial capabilities are already very strong. Except for Shanghai, China is unparalleled.
According to “21st Century Business Herald”: Beijing is the national financial management center, and the financial industry is the first pillar industry of Beijing’s economic and social development. Beijing has gathered more than 900 legal person institutions in the fields of financial supervision, asset management, credit rating, payment and settlement, financial information, and standard setting, ranking first in the country; Beijing’s total financial assets exceed 170 trillion yuan, surpassing the national financial half of the assets.
Attention, the important thing is said three times: the financial industry is the first pillar industry of Beijing’s economic and social development!
Beijing’s financial development, in addition to the direction of green finance, especially emphasizes financial technology. Among the top 100 leading financial technology companies in China released by KPMG, Beijing occupies 29 seats, the most in the country.
Moreover, the main person in charge of Beijing’s financial sector stated: We must keep an eye on technological development trends, and continue to make efforts in the fields of digital economy, basic research and development, scenario application, standard creation, talent introduction and training, institutional implementation, regulatory innovation, and open ecology to build a sound A fintech development ecosystem with high openness, high tolerance, and high risk control capability, and build a fintech innovation center with global influence.
In other words: Beijing is targeting the world’s top financial cities.
As the only city in the country to build a comprehensive demonstration zone and a free trade zone for the expansion and opening of the service industry at the same time, Beijing is definitely a new highland for financial reform and opening up.
In the construction of the “two districts”, the financial sector is also the most important part. At present, 102 policy measures have been launched. So far, 81 policies have been implemented, with an implementation rate of 79.41%.
What’s more, the “New Third Board” is already in Beijing, but it lacks an independent operating system.
In this case, it is a matter of course for Beijing to have an exchange.
Finance needs to help technological innovation, and Beijing needs to maintain the advantage that finance is the first pillar industry.
04Beijing stronger is the first step
Returning to the north-south level, we all know that compared with the south, the overall development of the north is slower. There is no doubt that there needs to be a rebalancing between North and South.
Baopu Finance has noticed that Macau and Shenzhen Qianhai have recently obtained a series of favorable policies.
Looking around the north, Beijing is undoubtedly the most powerful lever. Facing the current situation of Hebei and Tianjin, we actually know very clearly: Beijing can only be strengthened, never weakened.
Although Beijing emphasizes on building a “political center, cultural center, and international exchange center”, it does not mean that economic construction is weakened.
On the contrary, for the purpose of rebalancing, Beijing’s economic power needs to play and actually also play the role of a “fixing star” in the north, so that at least the power radiating to the surrounding area is stronger.
If Beijing does not make efforts in the manufacturing and financial industries, but only emphasizes and strengthens the functions of the capital, then the talents, technologies and capital in the north, especially the resources of the three eastern provinces, may flow to the Pearl River Delta and the Yangtze River Delta more quickly.
A strong financial Beijing and a strong manufacturing Beijing are one of the important forces in addressing the economic gap between the North and the South. Of course, Beijing’s efforts alone are not enough, and more systems and forces are needed to advance and reform.
So, what is the trend in Beijing?
The trend is that Beijing will play an increasingly important role in the economy. Not only is it far ahead in terms of technology, but also in terms of finance, it will accelerate to catch up with the world’s top financial centers. As a result, the status quo of the manufacturing and financial industries in China’s urban landscape will also accelerate. Optimization, continuous rebalancing.
The next important proposition is: how can Beijing, which pursues “high-end, high-quality” continuously and high-quality drive the development of Hebei and Tianjin, the specific industries and channels have been listed in the document for a long time, how to make the measures more powerful and the implementation more in place , how to make the Beijing-Tianjin-Hebei integration play a greater role, this is a more worthy of efforts and pursuit of goals.
The first step is to make Beijing stronger, the second step is to accelerate the integration and growth of Beijing-Tianjin-Hebei, and the third step is to coordinate and develop the north and the whole country as a whole. Of course, there are also the forces in the south that continue to increase their support. factor.
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