With the advancement of the building of the Integrated National Demonstration Zone for Opening up the Services Sector and China (Beijing) Pilot Free Trade Zone ("Two Zones") in Beijing, an increasing number of high-quality foreign financial institutions choose Beijing for development, with several "first-ever" landmark projects successfully launched so far.

Recently, BMW (China) Insurance Brokers Co., Ltd. (hereinafter referred to as "BMW Insurance Brokers") has obtained an insurance broker business license. This is a significant milestone in the building of the "Two Zones" in Beijing's financial sector. It's learned that the approval process, from application submission to final approval, was completed in just 12 working days, demonstrating remarkable efficiency.

The "Beijing Speed" for foreign investment access is attributed to the support of the working mechanism in the financial sector to advance the building of the "Two Zones." Before the application by BMW Insurance Brokers, the officials from the National Financial Regulatory Administration and Beijing Municipal Bureau of Local Financial Regulation and Supervision held face-to-face communication with the executives from its parent company. During the business registration process in 2022, the company enjoyed "one-stop" processing services. Throughout the 2023 application for its insurance broker business license, the company received clear and careful guidance from the financial regulatory authorities. The preparatory team of BMW Insurance Brokers highly praised the continuously optimized financial business environment in Beijing.

(Source: Beijing Daily)