Beijing speeds up airport economic development

An opening ceremony for the establishment of a core area of the airport economic zone at Beijing Capital International Airport in the city’s Shunyi district was held on April 18.

The area, which has been approved by the municipal government, will have its own administrative committee, which is a governmental agency in the city.

It will strive to become an economic hub in the airport zone by innovative services and an improved industrial layout, so as to make greater achievements in changing its economic growth model by upgrading its industries, said Zhang Aidong, director of the area’s administrative committee. At the opening, there was also a signing ceremony between the area and several tenants, including Xinhua News Agency’s new media park and a new airline company – Guohong Airlines.

The nightview of Beijing Capital International Airport. [Photo by Jing Lei/provided to China Daily]

The total contract value is expected to exceed 25 billion yuan ($4 billion) and these projects will generate taxes of nearly two billion yuan per year.

In addition, the committee signed a strategic cooperation agreement with the Bank of Beijing in financing the construction of its urban infrastructure and public facilities, as well as providing funds for key projects and small and medium-sized enterprises in the zone.

As one of the city’s six high-end industrial functional areas, the core area of the airport economic zone covers 170 square km according to the plan. The first phase will include the former Beijing Tianzhu Airport Development Zone, the Beijing Airport Logistics Base and Guomen Business Area, with an area of 56 square km.

The area will focus on providing a platform of cooperation between Beijing International Airport and all kinds of tenants in the zone, as well as services to attract more investments from home and abroad.

According to the plan, it will serve as a relocation destination for the industries in other functional clusters of Beijing, such as Tianzhu Comprehensive Bonded Zone and Zhongguancun Science Park. The core area will also foster its own competitive industries -- airport transportation, strategic emerging industries, industrial finance, business services, and culture and creation.