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According to the Beijing Economic and Technological Development Zone (BDA), foreign-funded enterprises are currently playing an important role in promoting the high-quality development of the industry in the BDA. In order to better attract and serve foreign-funded enterprises, the cross-border services provided by the BDA are gradually improving and upgrading.

At present, more than 1,100 foreign-invested companies from over 40 countries have settled in BDA. Among them, 77 overseas-funded Fortune 500 companies have invested in more than 100 projects. In order to better attract and serve foreign-funded enterprises in the BDA, cross-border services of financial institutions are gradually upgrading.

The BDA branch of the Bank of China is the first financial institution in Beijing to introduce a standardized process for corporate foreign exchange business. The bank claims each foreign exchange transaction will be completed within 1-10 working days, provided that customer information is complete and accurate. At the same time, in order to better serve foreign talent, the Bank of China provides salary settlement and remittance services. Yin Nan, the deputy director of the branch.

Many foreigners come to work in China. After getting paid, they need to exchange money into foreign currency and remit it. Under the previous model, they needed to provide a set of complicated materials, such as identity certificates, work certificates, tax payment certificates, employment contracts, etc. They had to come to the bank branch in person every time, and the bank has to review a full set of documents every time. Now, the Bank of China launched a foreign exchange service for foreigners. After we have reviewed the complete set of documents, customers only need to bring one certificate when they do business in the future.

The Industrial and Commercial Bank of China (ICBC) has processed the first BDA "Facilitated Cross-border RMB Settlement Business for Enterprises Responsible for Overseas Contracting Projects", realizing timely cross-border RMB settlement. Feng Chao, vice president of ICBC Beijing Pilot Free Trade Zone Branch, also introduced their low-cost cross-border financing services for enterprises:

In March, a high-tech listed company in the BDA put forward a financing requirement, because they had a temporary shortage of operating capital. After comparing the prices with many of our overseas branches, we successfully matched a low-cost fund from ICBC Macau branch for this company. We have allowed companies to raise low-cost funds overseas, and the financing cost is one percentage point lower than the domestic financing cost over the same period. It takes the same time as approving a domestic loan. 

In 2020, 48 of the top 100 enterprises in terms of output value were foreign-funded enterprises, with a total output value of more than 310 billion yuan, accounting for 75% of the total output value. Overseas-funded enterprises have helped Beijing's BDA achieve high-quality development.