Beijing has made significant strides in advancing the development of the Integrated National Demonstration Zone for Opening up the Services Sector and the China (Beijing) Pilot Free Trade Zone, collectively known as the "Two Zones". It has implemented over 50 groundbreaking national policies and developed more than 40 experience-based cases for nationwide promotion since 2020.

The main innovation and R&D building of the Beijing Zhongguancun Comprehensive Bonded Zone is set to open in September

The Beijing Zhongguancun Comprehensive Bonded Zone (Zhongguancun Comprehensive Bonded Zone), officially accepted on April 26, is China's first comprehensive bonded zone focusing on research and development (R&D) and innovation. Its main innovation and R&D building is slated for operation in September. The Zhongguancun Comprehensive Bonded Zone leverages policies from the pilot free trade zone, the service industry opening-up demonstration zone, and the Zhongguancun Independent Innovation Demonstration Zone. It prioritizes the integrated circuit and medicine and healthcare industries, while emphasizing AI and information technology services. The comprehensive bonded zone aims to develop the headquarters economy, cross-border e-commerce, and other business models and establish an innovative regulatory framework.

Beijing GoBroad Hospital is taking active steps to support the R&D of advanced technologies such as cell and gene therapies

As a pioneer among international research hospitals, Beijing GoBroad Hospital offers a new patient experience and establishes a high-level research platform. Leveraging the advantages of the "Two Zones" development policies in Beijing, the hospital enjoys priority access to innovative drugs and medical devices that are already available overseas. These policies create favorable conditions for the hospital to develop urgently needed clinical products. Moreover, the hospital is actively promoting the R&D of advanced technologies such as cell and gene therapies.

HSBC Insurance Brokerage provides clients with customized asset allocation solutions through AI

Established in 2022, HSBC Insurance Brokerage Co., Ltd. (HSBC Insurance Brokerage) is China's first wholly foreign-owned insurance brokerage and the only wealth management institution to hold both a fund sales license and an insurance brokerage license. Since its inception, the company has become a key player in China's wealth management sector and actively supports Beijing's "Two Zones" development strategy. HSBC Insurance Brokerage has achieved significant milestones since its establishment. Its registered capital has increased to CNY 1,763.2 million, demonstrating HSBC's strong confidence in the Chinese market. The company has nearly 1,700 private wealth planners, And its independently developed smart wealth planning investment model provides clients with customized asset allocation solutions by leveraging AI, big data analysis, and other corresponding technologies.

Following the development of the "Two Zones", the "Two Zones" project pool has introduced over 26,000 new projects and facilitated the implementation of over 18,000 projects, involving an investment of at least CNY 3.6 trillion. China (Beijing) Pilot Free Trade Zone has played a leading role in fostering an open economy. The actual use of foreign capital in the China (Beijing) Pilot Free Trade Zone in the first half of 2024 reached 27.4 percent of the city's total, reflecting an 8.1 percentage point increase compared to that at the end of last year.

"China Mastercard" bank card enables payment connectivity for holders both domestically and internationally

As Beijing advances the in-depth development of the "Two Zones", Mastercard NetsUnion Information Technology (Beijing) Co.,Ltd. (Mastercard NetsUnion) is accelerating its bank card clearing business. Benefiting from the preferential policies associated with the "Two Zones" development, the company  has enhanced its integration with international payment technologies and facilitated innovation in bank card clearing services. The introduction of the "China Mastercard" bank cards has established seamless connectivity between domestic and international payment systems, providing consumers with a more convenient payment experience.

(Source: Beijing News)