At the 2020 China International Fair for Trade in Services (CIFTIS) on September 4th, 2020, President Xi Jinping announced in his speech that Beijing would be supported in building a national integrated demonstration zone for greater openness in the service
industry, and in setting up a pilot free trade zone characterizing scientific and technological innovation, opening-up of the service sector, and digital economy. In September 2020, the State Council successively printed and distributed
the Plan for Building an Integrated National Demonstration Zone for Opening up the Services Sector Through the Integrated Pilot Program for Further Opening up Beijing's Services Sector, and the Master Plan for the China (Beijing) Pilot
Free Trade Zone. The approval of the "Two Zones" demonstrates China's unwavering confidence and determination to further its opening-up. In accordance with the requirements written in the State Council's approval letter, Beijing will
accelerate the construction of the "Two Zones" and make efforts to create a business environment that is law-based, internationalized and business-friendly, providing better conditions to facilitate the development of overseas and
domestic enterprises in Beijing.