Series of major projects have recently been carried out, indicating the high quality development of the financial sector of Beijing thanks to the development of the pilot comprehensive demonstration zone for further opening up the Service Industry and China (Beijing) Pilot Free Trade Zone (the "Two Zones").

According to Wang Ying, Deputy Director of Beijing Local Financial Supervision and Administration，of the overall 102 financial policies related to the "Two Zones", 43 relative policies have been implemented by the end of 2020, covering several aspects such as expanding options for equity investment and exit of venture capital, smoothing cross-border capital flow, improving business environment and facilitating the employment of high-end financial talents in Beijing.

Wang Ying noted that, as the prime pillar of the local economy, Beijing's financial industry  achieved an increase of CNY 524.45 billion in the first three quarters in 2020, an increase of 7 percent on the year-on-year basis. It accounts for more than one fifth of the GDP of Beijing and contributed to 22 percent of the fiscal revenue and nearly half of the tax revenue of Beijing that vows to become a financial hub and an open gateway with global influence in the future.

(Note: Content source is from China Youth Daily.)