Service sector

Beijing to deepen opening-up efforts in service sector

Beijing will further deepen its efforts to open up in the service sector and make cross-border trade more convenient based on the achievements from the capital’s “two-zone” construction project, officials said on Feb. 10.

The two zones are a demonstration zone for the service industry in the capital, approved by the central government in 2015, and a free trade zone, approved in September 2020.

Beijing has completed more than 90 percent of reform and innovation tasks related to the two zones as of the end of last year, said Liu Meiying, spokesperson for the city’s commerce bureau and construction works bureau. two areas, during a press conference held at the Beijing 2022 Media Center on February 10.

“The opening of the service sector in Beijing and the establishment of the free zone have created significant opportunities that will promote high-quality development in the city,” she said.

The zones offer preferential policies to foreign and domestic investors in sectors such as science, culture, entertainment, finance, tourism and health.

Liu said the city government will continue to promote reform and strengthen coordination among government departments this year.

“At present, the key areas of the two zones – each of which has different goals, including scientific innovation, international trade and high-end manufacturing – have supported the comprehensive opening up of Beijing’s service sector” , she said.

“We have supported the construction of the city’s international scientific innovation center by carrying out preferential policies for enterprises. For example, the approval process for high-tech companies in key areas has been reduced by 80% in terms of time and requirements.

The policies of the two zones have also accelerated the city’s construction of an international consumer hub, one of the city’s major objectives.

Beijing conducted a pilot program involving online cross-border sales of pharmaceuticals, which increased the number of pilot drugs to 66, with more than 1.2 million orders for these drugs.

Last year, Beijing attracted more than 900 “first stores” – a reference to a brand’s first physical outlet in the city. Of these, 134 were for international brands, accounting for 15% of the city’s first new stores last year.

To create a world-class business climate, Beijing has come up with many new measures to attract talent.

Lu Xiaobo, spokesperson for the Beijing Municipal Human Resources and Social Security Bureau, said the capital is working to establish a talent development mechanism that will be globally competitive.

Beijing has allowed foreign professionals in the two areas to take Chinese professional qualification tests and has recognized about 82 foreign professional qualifications in 10 major fields, including finance, education, construction and health, he said. declared.

The financial sector also plays an important role in the construction of the two zones. According to the Beijing FTZ plan, the city government will support the People’s Bank of China, the country’s central bank, in its efforts to establish a digital currency zone and a digital financial system in Beijing.