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Beijing hosted on May 16 the launch ceremony for the China (Tonglu, Hangzhou) International Pilot Zone of Life Sciences and Healthcare Industry, an event marking the establishment of the first national pilot zone for life sciences and the healthcare industry in the Yangtze River Delta.

Beijing's municipal government will continue providing a series of preferential policies to improve the capital's business climate, one that has been highly acknowledged by foreign entrepreneurs.

Before large banks began reaching out to these clients, city and rural commercial banks offered small business loans at average annual rates of more than 8 percent. By the end of June, however, the weighted average interest rate of one-year loans issued by Agricultural Bank of China's Zhejiang branch to incorporated small businesses was around 4 percent, lower than the average lending rate of the overall banking sector, said Hu Yongzhong, general manager of the inclusive finance department at the branch.

Beijing has been striving to focus on sectors including science and technology, finance, culture, creative services and other innovative and emerging sectors. Beijing, which is the national center for politics, culture, international communication, as well as scientific and technological innovation - collectively known as "four centers" - wants to remove its noncapital functions and to focus on building the four centers to solve its big city malaise.

Beijing and Shanghai were way ahead of other cities, for the two surpassed 10 trillion yuan (.45 trillion) in total capital amount.