Recently, Beijing International Investment and Trade Conference 2024 kicked off at the China Beijing International High-Tech Expo. The updates on the development of Beijing's "Two Zones" and the emerging opportunities were revealed during the conference.
The "Two Zones" refer to the Integrated National Demonstration Zone for Opening up the Services Sector and the China (Beijing) Pilot Free Trade Zone. The Integrated National Demonstration Zone for Opening up the Services Sector (hereinafter referred to as the "Zone") prioritizes industrial opening. It spans the entire area of Beijing, covering multiple key service sectors, including technology services, finance services, internet information services, cultural tourism services, etc. The Zone is the only one of its kind in China. In 2023, the 2.0 plan for the development of the Zone was approved for implementation. The plan focuses on key areas such as investment, trade, finance, biopharmaceuticals, intellectual property rights, and cross-border data flow, aiming to promote deeper reforms and opening up. As a guiding plan for Beijing's opening up in the current and future periods, it provides facilitation conditions for the city to follow high-standard international economic and trade rules and to create a world-class business environment.
The China (Beijing) Pilot Free Trade Zone (hereinafter referred to as the "FTZ") prioritizes opening-up of industrial parks and the implementation of innovative policy within its designated area. It is poised to build "3+1" free trade areas spanning nearly 130 square kilometers in total. These include three areas within the FTZ: the Sci-Tech Innovation Area, the International Business Services Area, and the High-End Industries Area, along with Daxing International Airport Area (Beijing region) in the China (Beijing) Pilot Free Trade Zone. In 2023, the China (Beijing) Pilot Free Trade Zone, as one of the six pilot free trade zones and ports in China, took the lead in adopting international high standards to advance institutional opening up.
To facilitate investment and trade, Beijing primarily focuses on two strategies: first, relaxing market access for foreign investment to attract a broader spectrum of foreign capital; and second, providing convenience to promote the higher quality development of foreign trade. Since the commencement of the building of the "Two Zones", Beijing has introduced 149 measures related to cross-border trade, greatly improving trade facilitation.
(Source: The Beijing News)
