New Policies for Beijing's CBD Released, Covering Headquarters Economy, International Finance and More

Recently, the Several Measures to Promote High-Quality Development of Beijing's Central Business District (hereinafter referred to as Measures) has been revised. The revisions aim to enhance policy guidance and financial support in terms of the upgrades of the headquarters economy, the development of an international financial cluster and a CNY-100-billion-level international business district, etc.

In terms of the upgrades of the headquarters economy, the Measures actively attracts top-tier companies to establish their presence in CBD and encourage the establishment of new functional headquarters. Specifically, the headquarters of the leading companies newly selected or relocated, including those of the top 500 companies in China's service industry, manufacturing industry, other private industries, etc., and those of the top 100 companies in the field of software and information technology services, as well as the newly established or relocated headquarters of the centrally-administered state-owned enterprises and their first and second-tier subsidiaries, are each eligible for a one-time financial reward of up to CNY 5 million.

For the development of an international financial cluster, the Measures actively promotes the application of e-CNY in different scenarios. Specifically, commercial entities that promote the scenario-based application of e-CNY in CBD and have achieved demonstrative effects are each eligible for a one-time financial reward of CNY 100,000 upon certification. For the application scenarios recognized by the governmental authorities at or above the district level, the reward amount increases to CNY 200,000.

To build a world-class CNY-100-billion-level international business district, the Measures calls for intensified efforts to attract high-quality brand enterprises. Specifically, directly operated stores of internationally renowned commercial brands and well-known fashion consumer brands introduced and recognized are each eligible for financial support of up to CNY 3 million.

In terms of the increasing efforts to attract and utilize foreign investment, the Measures encourages the establishment of more pilot projects for the opening of cross-border investment. Specifically, any qualified foreign limited partner (QFLP) that is newly established, relocated, or newly approved for pilot projects and registered in accordance with the laws is eligible for a one-time financial reward of up to CNY 1 million.

In terms of the development of a pioneering demonstration zone for a world-class business environment, the Measures calls for enhanced support for foreign investment development factors and service guarantees, and promotes the clustering of high-end service industries and professional service institutions. Specifically, the companies ranking top 10 domestically and globally in the fields of professional services, such as legal services, accounting and auditing, evaluation services, human resources services, and credit services, are each eligible for a one-time financial reward of up to CNY 5 million for their settlement and growth in the area.

(Source: Beijing Daily App)