Recently, Shunyi District of Beijing has been progressing in its development of the Integrated National Demonstration Zone for Opening up the Services Sector) and the China (Beijing) Pilot Free Trade Zone (the "two zones"). On February 18, 2021, two premium fund management companies, Langhe Fund and Langjia Fund, successfully obtained business licenses and officially registered in Shunyi District. The two companies are known to have a combined registered capital of CNY 60 million. Looking forward, their capital management scale is expected to reach CNY 10 billion. Langjia Fund is a private equity investment fund focusing on infrastructure industry and targeting Real Estate Investment Trusts (REITs).

As an important part of the "two zones" development in Beijing and the capital industrial finance center, Shunyi District will further take advantage of these strategic opportunities brought on by development of the "two zones". It will fully utilize its unique geographical advantages as the gateway of both the capital and numerous airport economy industries with the intent of becoming a new highland of cross-border finance development within the capital.

By relying closely on the three development platforms (airport economic demonstration zone, Tianzhu Free Trade Zone, Sino-German International Cooperation Industrial Park) Shunyi District will accomplish numerous tasks, including: focusing on facilitating cross-border capital flow, prioritizing pilot project promotion to facilitate the payment of income under capital accounts, facilitating cross-border CNY business and foreign exchange business in key industries, and supporting qualified foreign trade comprehensive service providers to provide integrated foreign exchange services for trade in goods for cross border e-commerce companies.

In addition, Shunyi District is actively implementing financial sector pilot policies during the development of the "two zones", such as one-off registration of foreign debts and the sharing of foreign debt quota between parent and subsidiary companies in financial leasing.

Moving forward, the open and convenient environment offered by Shunyi District will continue to attract both Chinese and foreign licensed financial institutions, industrial funds, aircraft financing (financial) leasing, auto finance, and other business institutions into entering the District for development. It will also create a sound business environment that is suitable for the sustained and healthy development of both domestic and foreign entities.

(Note: Content source is from People's Daily Online)