(Yicai) Nov. 2 -- Many developers of high-tech products in the fields of artificial intelligence, medical apparatus and instruments, and ultra-high definition digital audiovisual equipment have moved their headquarters to Mentougou district in Beijing following the introduction of favorable policies and the establishment of industrial funds.

Mentougou was home to 119 high-tech companies as of Oct. 25, according to the latest data from the local government. Forty-nine of them settled down in the district this year alone.

Mentougou offers nearly 1.1 million square meters of office buildings and factories to companies and established CNY4 billion (USD546.6 million) worth of industrial funds, CNY1 billion for the Jingxi Industrial Guidance Fund and CNY1 billion each for three sub-funds for the AI, medical apparatus and instruments, and ultra-high definition digital AV equipment industries, Xie Huancheng, deputy head of Mentougou, told Yicai.

The industrial funds have invested CNY80 million (USD10.9 million) in nearly 80 firms since they were established half a year ago, Xie noted.

Chinese surgical robot developer Beijing Kepeng Medical Equipment settled in Mentougou in July. Kepeng received an investment from the Jingxi Industrial Guidance Fund, which is of great help for its development, General Manager Bai Yun told Yicai.

Baheal Pharma Group, an investment platform for the incubation of innovative drugs and high-end medical apparatus and instruments, moved to Mentougou in April last year. Products developed by Baheal-backed companies make up for China’s technical shortcomings and fill gaps in the global market.

For example, an artificial heart developed by CH Biomedical, in which Baheal invested, has been used in implant surgeries for over 160 heart failure patients by more than 40 Chinese cardiovascular hospitals.

Editors: Tang Shihua, Futura Costaglione