When Beijing held an Investment Fair this past Dec 9, to give private capital more chances to invest in the city's high-tech project, its Economic Technological Development Area, or E-town, an innovation center, got two high-tech contracts worth a total of 300 million yuan ($48 million).

The projects involve an intelligent information management system for medical care for the Beijing Huaxing Changtai Internet of Things Co, and an industrial diagnostic reagent base, with QuantoBio Co. The first will cover a 5500-square–meter space in the E-town, for R&D, production, and related facilities, with construction work to begin in January 2017. It is expected to be completed by the end of 2019, and to have revenues of 200 million yuan annually.

The reagent base will cost about 150 million yuan and is expected to have 500 million yuan in revenues annually.