The Regulations on China (Beijing) Pilot Free Trade Zone (hereinafter referred to as the Regulations) has been implemented on May 1.

Compiled with 11 chapters and 68 articles, the Regulations stipulates the positioning of China (Beijing) Pilot Free Trade Zone's development, management system, investment openness and trade facilitation, scientific and technological innovation, digital economy development, financial services, openness for advantageous industries, Beijing-Tianjin-Hebei coordinated development, management innovation, as well as a guarantee for talent services.

The Regulations also clarifies that the development of the pilot free trade zone shall center around institutional innovation and should be able to be copied and popularized. The development of the pilot free trade zone, while ensuring safety and risks under control, shall fulfill the needs of strategies such as innovation-driven development and Beijing-Tianjin-Hebei coordinated development. It aims to support the building of Beijing as an international center for innovation, the Integrated National Demonstration Zone for Opening up the Services Sector, and the development of the digital economy, thus creating a high-level opening-up platform with the coordinated development of the Beijing-Tianjin-Hebei region.

(Source: www.legaldaily.com.cn)