Beijing relocates 1,307 manufacturers

Beijing has moved out 1,307 manufacturing companies over the past two years and introduced more high-tech, culture and information technology industries in order to better improve the capital city's core functions, an official said on Tuesday.

Li Sufang, deputy head of the Beijing Development and Reform Commission, said the city has been working on moving out low-efficiency industries and making better use of the space for new industries.

The city moved out 500 wholesale markets and logistics centers last year, freeing up "precious" space for new industries.

Companies in the technology service, culture, sports and software industries account for 50 percent of new companies in 2018, up from 25 percent in 2017.

Among them, there were more than 70,000 companies in the information service and science and technology industries, 40 percent of total new companies in 2018, according to the commission.