Recently, the Several Measures to Promote High-Quality Development of Beijing's Central Business District (hereinafter referred to as Measures) has been revised.

The Measures leverages the advantageous policies designed for the development of the Integrated National Demonstration Zone for Opening up the Services Sector and the China (Beijing) Pilot Free Trade Zone. It focuses on advancing the headquarters economy, international finance, business district development, and attraction and utilization of foreign investment while reinforcing policy guidance, market orientation, financial support, and incentive mechanisms.

In terms of the upgrades of the headquarters economy, the Measures actively attracts top-tier companies to establish their presence in CBD, encourage the establishment of new functional headquarters, promotes the characteristic growth of headquarters enterprises, and supports these enterprises in cross-border trade. Specifically, the headquarters of the leading companies newly selected or relocated, including those of the top 500 companies in China's service industry, manufacturing industry, other private industries, etc., those of the top 100 companies in the field of software and information technology services, and those of the top 100 companies on rankings like the Top 100 Internet Companies in China by Comprehensive Strength Index are each eligible for a one-time financial reward of up to CNY 5 million. Such financial rewards will also be granted to the newly established or relocated headquarters of the centrally-administered state-owned enterprises and their first and second-tier subsidiaries.

For the development of an international financial cluster, the Measures actively promotes the application of e-CNY in different scenarios, calls for innovations and promotions of cross-border CNY operations, and fosters innovative advancements in financial achievements and mechanisms. Specifically, commercial entities that promote the scenario-based application of e-CNY in CBD and have achieved demonstrative effects are each eligible for a one-time financial reward of CNY 100,000 upon certification. For the application scenarios recognized by the governmental authorities above the district level, the reward amount increases to CNY 200,000.

To build a world-class CNY-100-billion-level international business district, the Measures calls for intensified efforts to attract high-quality brand enterprises, and enhance the cultivation of emerging and service-relevant consumption models. Efforts will also be made to improve the regional consumption environment, improve the level of digitalized commercial services, and foster an environment for cultural and art consumption. Specifically, directly operated stores of internationally renowned commercial brands and well-known fashion consumer brands introduced and recognized are each eligible for financial support of up to CNY 3 million.

As part of the increasing efforts to attract and utilize foreign investment, the Measures encourages the establishment of more pilot projects for the opening of cross-border investment, expedite the upgrade and expansion of stock enterprises, and encourages a group of foreign-invested professional service agencies to establish their presence in Beijing. Specifically, any qualified foreign limited partner (QFLP) that is newly established, relocated, or newly approved for pilot projects and registered in accordance with the laws is eligible for a one-time financial reward of up to CNY 1 million.

In terms of the development of a pioneering demonstration zone for a world-class business environment, the Measures calls for enhanced support for foreign investment development factors and service guarantees, promotes the clustering of high-end service industries and professional service institutions, and facilitates the construction of high-quality business buildings and other venues alike. The Measures also proposes to optimize the internationalized development modes and refine the environment for the growth of the professional talented individuals from around the globe. Specifically, the companies ranking top 10 domestically and globally in the fields of professional services, such as legal services, accounting and auditing, evaluation services, human resources services, and credit services, are each eligible for a one-time financial reward of up to CNY 5 million for their settlement and growth in the area.

The Measures extends support to enterprises, public institutions, private non-enterprise entities, non-governmental organizations and other entities with independent legal person qualifications, which operate in compliance with the law in the functional areas of Beijing's CBD as well as Jinzhan International Cooperation Service Zone.

(Source: Beijing Daily)