Beijing has made significant strides in advancing the development of the Integrated National Demonstration Zone for Opening up the Services Sector and the China (Beijing) Pilot Free Trade Zone, collectively known as the "Two Zones". It has implemented over 50 state-leading groundbreaking policies, creating more than 40 practical cases for nationwide promotion since 2020.
The main innovation and R&D building of the Beijing Zhongguancun Comprehensive Bonded Zone is set to open in September
The Beijing Zhongguancun Comprehensive Bonded Zone (hereinafter referred to as the “Zhongguancun CBZ”), officially accepted on April 26, is China's first comprehensive bonded zone focusing on research and development (R&D) and innovation. Its main innovation and R&D building is slated for operation in September. Leveraging policies from the pilot free trade zone, the service industry opening-up demonstration zone, and the Zhongguancun Independent Innovation Demonstration Zone, the Zhongguancun CBZ prioritizes the integrated circuit and medicine and healthcare industries, while emphasizing AI and technology services. The comprehensive bonded zone aims to develop the headquarters economy, cross-border e-commerce, and other business models and establish an innovative regulatory framework.
Beijing GoBroad Hospital is taking active steps to support the R&D of advanced technologies such as cell and gene therapies
As a pioneer among international research hospitals, Beijing GoBroad Hospital offers a new patient experience and establishes a high-level research platform. Taking advantages of the "Two Zones" development policies in Beijing, the hospital enjoys priority access to innovative drugs and medical devices that are already available overseas. These policies create favorable conditions for the hospital to develop urgently needed clinical products. Moreover, the hospital actively promotes the R&D of advanced technologies such as cell and gene therapies.
HSBC Insurance Brokerage provides customers with customized asset allocation solutions through AI
Established in 2022, HSBC Insurance Brokerage Co., Ltd. (“HSBC Insurance Brokerage”) is China's first wholly foreign-owned insurance brokerage as well as the only wealth management institution to hold both a fund sales license and an insurance brokerage license. Since its inception, the company has become a key player in China's wealth management sector and a positive participant in Beijing's "Two Zones" development. HSBC Insurance Brokerage has achieved significant milestones. Its registered capital has increased to RMB 1.7632 billion, demonstrating HSBC's strong confidence in the Chinese market. The company has nearly 1,700 private wealth planners. Its independently developed smart wealth planning investment model, built on AI, big data analysis and other technologies, provides customers with customized asset allocation solutions.
To date, there are over 26,000 projects in the "Two Zones" project pool, among which over 18,000 have been implemented, involving an aggregate investment of at least RMB 3.6 trillion. China (Beijing) Pilot Free Trade Zone has played a leading role in fostering an open economy. The actual use of foreign capital in the Zone in the first half of 2024 reached 27.4 percent of the city's total, registering an 8.1 percentage point increase compared to that at the end of last year.
"China Mastercard" bank card enables payment connectivity for holders both domestically and internationally
As Beijing advances the in-depth development of the "Two Zones", Mastercard NetsUnion Information Technology (Beijing) Co.,Ltd. (Mastercard NetsUnion) is accelerating its bank card clearing business. Benefiting from the preferential policies associated with the "Two Zones" development, the company has enhanced its alignment with international payment technologies and facilitated innovation in bank card clearing services. The introduction of the "China Mastercard" bank cards has established seamless connectivity between domestic and international payment systems, providing consumers with a more convenient payment experience.
(Source: Beijing News)