Recently, Beijing Daxing International Airport Economic Zone (the Zone) announced 30 industrial support policies which focus on the “1+2+2” key industries including life and health, aviation service, high-end hub services, new-generation information technology, and intelligent equipment. Applying to the Daxing Cluster of the High-end Industry Area in the China (Beijing) Pilot Free Trade Zone and Daxing Airport Area (Beijing Daxing) in the China (Hebei) Pilot Free Trade Zone, the policies will further boost agglomeration and development of international high-end industries within the Zone.

Oriented to a number of fields, the 30 support policies are targeted to encourage key industrial enterprises to settle and develop in the Zone, support the agglomerated development of life and health industry, aviation service industry, digital economy and digital trade industry. Moreover, the policies are developed to sustain opening-up and development of the financial sector, promote commercialization of scientific and technological achievements, support application and protection of intellectual property rights, and encourage socially entrusted investment promotion, etc.

Specifically, financial supports will be given to the landing, technological R&D, and service platform construction of key industries and major projects, launch of innovative application scenarios (digital port, digital logistics, digital consumption, digital fair, data trading, and digital RMB, etc.) by qualified enterprises in the Zone, and residence and development of headquarters and Asia-Pacific headquarters of international organization, various international industry associations, and international professional service institutions in the Zone, etc. Besides, special incentives are in place to boost the development of life and health, digital economy and digital trade industry.

In addition, the Zone is set to support the opening up and innovation of the financial sector. Based on the amount of paid-up capital in foreign investment, strong support will be given to foreign-funded corporate financial institutions and branches capable of independent settlement or foreign-funded institutions accredited by the administrative committee in the Zone. A certain amount of financial support is given to private equity investment funds in the Zone according to their investment scale. A one-off reward will be given to enterprises that engage in cash-pooling of local and foreign currencies, cross-border bond issuance, cross-border financial assets trading and other innovative business in the Zone based on the business size.

By the end of March this year, overall 949 registered enterprises have been newly added in the Daxing Cluster of the High-end Industry Area in the China (Beijing) Pilot Free Trade Zone and Daxing Airport Area (Beijing Daxing) in the China (Hebei) Pilot Free Trade Zone. From January to March this year, 542 enterprises were newly registered, accounting for 57% of the incremental part in the free trade zones, ranging from biomedicine to aviation, science & technology, trade, investment, and human resources management, etc.

Next, the Zone will work further to develop world-class business environment, and push ahead with construction of the "Dual Free Trade Zone" and the national demonstration zone for opening up the service industry. It will intensify reforms, improve institutional supply, and take every effort to build a global hub for innovative resources.

(Source: Beijing Daily)