The Capital Airport Economic Demonstration Zone has seized all opportunities presented by the construction of the "two zones" to promote high-quality economic development ever since it was included into the international business services area of the China (Beijing) Pilot Free Trade Zone. According to the latest statistics, from September 2020 to February 2021, altogether 1,640 new enterprises have registered in the Capital Airport Economic Demonstration Zone, with a registered capital of approximately CNY 12.3 billion, including 14 foreign-funded enterprises.

The Capital Airport Economic Demonstration Zone is the current largest-scale airport economic zone of its kind in China. It also possesses the largest number of aviation service companies and is a most internationalized zone in China. Starting with the construction of the "two zones", new breakthroughs have been made in aviation services thanks to the advantages presented by the airport.

Conventionally, aviation materials were managed in bonded warehouses and would be taxed upon check-out of the warehouse, hampering the free flow of aviation materials to other areas. With further opening up of the service sector, Beijing has established the country's first platform to promote the sharing of aviation materials. The platform is capable of one-time filing, application, and approval of bonded aviation materials, thereby ensuring their free flow. The sharing platform has currently allowed for bonded aviation materials to freely flow and operate in many areas such as Beijing, Shanghai, Xiamen, Guangzhou, Chengdu, and Kunming. For example, the average repair time of a Boeing 787 aircraft has been significantly shortened to 35 days from 60 days in the past. According to incomplete statistics, the sharing platform can save more than 20 percent in aviation material costs for associated airlines.

From "half-month tour in Hong Kong" to "one-day customs clearance in the Tianzhu Free Trade Zone". Since the construction of the "two zones", companies have been able to complete the transfer, repair, and tax refunding of aviation materials via circulation in the Tianzhu Free Trade Zone. It is reported that thanks to the implementation of these construction measures, an aircraft engine that used to take a half month duration via Hong Kong now just takes one day to complete customs clearance in the Tianzhu Free Trade Zone, effectively avoiding long-term maintenance, high costs, and high transportation risks.

In addition, the Capital Airport Economic Demonstration Zone has also organized aircraft maintenance enterprises in the zone to apply for tariff adjustments. With the strong support of Beijing and the Ministry of Finance, the Notice of the State Council’s Customs Tariff Commission Regarding the Tariff Adjustment Plan for 2021 was issued recently. According to the plan, Aircraft Maintenance & Engineering Corporation benefits from the tax rate adjustment for 51 expendable items, and Beijing Ou Tuo Technology Co., Ltd. from 5 items, preliminarily estimated to save approximately CNY 2 million in tariffs for enterprises.

As of now, the number of registered enterprises in the Capital Airport Economic Demonstration Zone has climbed to over 8,000. With the construction of the "two zones" at its center, the Capital Airport Economic Demonstration Zone will utilize the advantages of aviation enterprise clusters to their full extent and continue to explore institutional innovation. The Zone will also improve mechanisms and the environment for further opening up, and do its utmost in promoting the integrated development of the airport, industries and the city in order to construct an innovation-led airport economy demonstration zone.

(Note: Content source is from Beijing Daily.)