Recently, the fourth batch of recognized foreign-funded R&D centers in Beijing was released, with an additional 14 newly recognized centers in Beijing E-Town.

As of now, the number foreign-funded R&D centers in Beijing E-Town has expanded to 27, including four foreign-funded R&D headquarters.

Currently, there are a total of 107 foreign-funded R&D centers in the city, such centers of E-Town accounting for over a quarter of the total.

What is a foreign-funded R&D center?

According to regulations, a foreign-funded R&D center refers to an institution wholly or partially invested by foreign investors whose main business is abroad, and is established in China in accordance with Chinese laws. 

Its scope of business includes conducting research and development in the field of natural sciences and related technologies (including intermediate experiments for R&D activities). There are two categories: R&D innovation centers and open innovation platforms.

With the pace of opening up accelerating, foreign-funded R&D centers have become an important part of the localization strategy for multinational companies in China. They serve as crucial carriers to promote the cross-border flow and global allocation of innovation factors. 

Staff members of Acotec Scientific Holdings Limited conduct research. [Photo/beijingetown.com.cn]

As an innovative medical technology company focusing on the field of vascular intervention therapy, Acotec has successively launched China's first peripheral drug-coated balloon product, the world's first clinically validated below-the-knee drug-coated balloon product, and the first domestically produced full set of radiofrequency ablation equipment. 

Currently, it has built more than 30 product pipelines, providing solutions for minimally invasive intervention therapy in various systemic vascular fields such as vascular surgery, interventional radiology, cardiovascular, neurology, endocrinology, nephrology, and respiratory critical care. 

"The reason for applying for a foreign-funded R&D center is the hope that the company can have better development space, enabling us to have more resources for innovative R&D, continuously innovating treatment methods in the field of vascular intervention, resisting vascular diseases, and benefiting more clinical patients." According to a representative of Acotec.

It is worth mentioning that, according to the policies of Beijing E-Town, for foreign-funded R&D centers recognized by the municipal-level industry competent authorities, the area will provide a recognition reward of 2 million yuan ($281,175.8). 

For those authorized by the parent company as part of the global R&D center of a multinational corporation, and with cumulative R&D total investment not less than $10 million and R&D investment in the previous year accounting for no less than 10 percent of the parent company's global R&D investment, an additional recognition reward of 3 million yuan may be granted, with a maximum of 5 million yuan.