Beijing has put into practice 43 out of 102 financial measures, about 42 percent on the checklist to enable the development of the Integrated National Demonstration Zone for Opening up the Services Sector and the China (Beijing) Pilot Free Trade Zone (the "two zones" in short), according to Beijing Local Financial Supervision and Administration at the press conference on development of Beijing's financial sector and the "two zones". The conference held on February 3, 2021 highlighted that fruitful results have been made as multiple innovative and leading major projects are carried out.
Beijing's capability for cross-border financial services has been improved significantly, providing additional choices for sci-tech innovation enterprises in Zhongguancun Science Park. The pilot policy for external debt facilitation in the park has been further upgraded, raising the debt limit from USD 5 million to USD 10 million, and one-off registration of foreign debt has been piloted. All the efforts will be conducive to the city's development of an international center for scientific discovery and technological innovation.
Beijing's Fin-Tech capacities have also been improved. The digital RMB has been firstly applied in the transportation scenarios of the Olympic Winter Games Beijing 2022. Tickets paid with digital RMB and wearable wallet of digital RMB featuring Beijing 2022 are piloted in the Beijing Daxing International Airport Express, marking a new step of digital RMB pilot for Beijing 2022-related scenarios and laying a solid foundation for establishment of a pilot zone for legal digital currencies in Beijing.
Beijing welcomed the registration of three major financial institutions in January 2021, namely China Life Investment Management Company Limited, which is China's first alternative investment insurance asset management company, GoPay Information Technology Co., Ltd, the first wholly foreign-owned licensed payment company in China, and Allianz Insurance Asset Management Co., Ltd, China's first wholly foreign-funded insurance asset management company.
(Note: Content source is from Beijing Daily.)