Recently, a joint meeting mechanism was formally established for the pilot free trade zones in the Beijing-Tianjin-Hebei region.

The three sides jointly signed the Framework Agreement on Trilateral Strategic Cooperation of Beijing-Tianjin-Hebei Pilot Free Trade Zones, and the plaque-unveiling was celebrated for the Think-tank Alliance of Beijing-Tianjin-Hebei Pilot Free Trade Zones. Overriding the general rule of processing only local government affairs, the agreement proposes "unified standards" for 57 government affairs services for the pilot free trade zones in the three places. In other words, "applications will be accepted on an identical basis, and handled in line with unified standards, and results will be mutually recognized".

The implementation of the joint meeting mechanism will assist the pilot free trade zones in Beijing, Tianjin and Hebei to further reduce the institutional barriers, thus laying a solid foundation for their platform, providing adequate policy support and creating an improved institutional framework for achieving deep integration of the industrial and innovation chains, and fostering more balanced collaborative development.

The joint meeting mechanism for Beijing-Tianjin-Hebei pilot free trade zones will play an important role in promoting the cross-regional circulation of key factors such as finance, data and human resources, improving cross-regional customs clearance cooperation, creating an industrial chain and industrial cluster with international influence, and setting a basis for cooperation in carbon emission rights trading. Thereby it will potentiate the drivers for high-quality integrated development in the three regions, help to develop Beijing-Tianjin-Hebei into a high-quality, coordinated and innovative alliance that is based on the region, serving the nation, and radiating worldwide, and provide more experience of regional synergies for the further opening up of the country.

The development of the Integrated National Demonstration Zone for Opening up the Services Sector and China (Beijing) Pilot Free Trade Zone (the "Two Zones" for short) in Beijing is also creating new opportunities and new space for the opening-up and development in Beijing, Tianjin and Hebei.

(Note: Content source is from The Beijing News)