The Zhongguancun Beijing-Tianjin-Hebei New Energy Vehicle Collaborative Development Promotion Association was officially established on Tuesday in Beijing. [Photo provided to chinadaily.com.cn]

The Zhongguancun Beijing-Tianjin-Hebei New Energy Vehicle Collaborative Development Promotion Association was established Tuesday in the capital. It will focus on the high-quality growth of the new energy vehicle industry.

The association is a social organization jointly initiated and established by 63 member units, including BAIC Group, Xiaomi Auto, Li Auto and Great Wall Motors, under the guidance of the government departments in Beijing, Tianjin and Hebei, according to the Beijing Development and Reform Commission.

The association will help accelerate the strengthening of the regional auto industrial chain, jointly targeting building a world-class advanced auto manufacturing industry cluster.

Zhang Xiyong, the first president of the new association and former general manager of BAIC Group, said during the establishment ceremony that it will serve the coordinated industrial development of the Beijing-Tianjin-Hebei region, as well as the enterprises, playing the role of resource-based hub platform, ecological think tank and incubation institution.

"We aim to build a cooperation and exchange platform for upstream and downstream industrial chains and promote the expansion and strengthening of the new energy intelligent connected vehicle industry in Beijing-Tianjin-Hebei," he said.

The association also signed a strategic cooperation agreement with the Industrial Investment Fund of Coordinated Development of the Beijing-Tianjin-Hebei Region, which will play the role of the fund in attracting investment and high-value-added ecological enterprises at home and abroad to accelerate their aggregation.

The Beijing-Tianjin-Hebei investment and financing service mechanism was also launched at the Tuesday conference, focusing on Beijing-Tianjin-Hebei fund and enterprise financing matchmaking. The mechanism aims to gather technology and financial units, such as capital markets, fund banks, industry associations, industry alliances and innovation platforms and provide full-chain and life-cycle financial services for various innovative subjects in the Beijing-Tianjin-Hebei area.

Officials from the Development and Reform Commissions of Beijing, Tianjin and Hebei, the Beijing Municipal Science and Technology Commission, the Administrative Commission of Zhongguancun Science Park, the Beijing Municipal Bureau of Economic and Information Technology, and the Beijing E-town attended the conference.