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Exodus of Enterprises

Caijing Magazine September 13, 2021

By NewsChina Updated Dec.1

According to the general development outlines of Beijing from 2016 to 2035, Beijing is positioned as a center of politics, culture, international communication and scitech innovation. Being an economic center is no longer a main function of the capital after it released a number of polices to reduce non-capital functions. Statistics from the Rising Lab, a research institute focusing on urban data, showed that at least 673 high-tech enterprises have moved out of Beijing over the past four years. Universities and hospitals affiliated with ministries and centrally administered State-owned enterprises in Beijing will start relocating to Xiong’an New Area, North China’s Hebei Province this year. The relocation is a necessary step to alleviate congestion and pollution in Beijing, and it is a main task in the upcoming years to use sci-tech innovation to empower the coordinated development of the Beijing-Tianjin-Hebei region.