Recently, the Beijing Municipal Commerce Bureau issued the 15th Five-Year Plan for Development of High-Standard Open Economy of Beijing Municipality（北京市"十五五"时期高水平开放型经济发展规划）.

The plan states that by 2030, the National Integrated Demonstration Zone for Greater Openness in the Service Industry and the China (Beijing) Pilot Free Trade Zone, together with the China International Fair for Trade in Services (CIFTIS), ZGC Forum, the Financial Street Forum and the Beijing Culture Forum, will play stronger roles in advancing opening-up. Beijing will move faster to grow into a global benchmark for the digital economy, a contributor to global medical and health innovation, and an international cluster for modern service industries.

In implementing the principle of "ensuring both easy market access and accommodating business environments", Beijing will improve the service mechanism for key foreign-invested projects and deliver end-to-end services covering project negotiation, signing, registration and operation. Efforts will be made to encourage and guide foreign-invested enterprises to reinvest within China, support them to scale up local production and engage in supporting collaboration with the upstream and downstream companies in industry chains.

Support will be given to multinational corporations in setting up regional headquarters in Beijing, and foreign-invested enterprises in establishing entities such as investment companies and R&D centers. Moreover, Beijing will strive to pilot reforms to facilitate services for overseas personnel in Beijing, and improve convenient services concerning applications for visas, residence and stay permits, and certificates, among others.

Beijing also aims to build a national demonstration zone for digital trade. Relying on platforms including the national digital service export base at ZGC Software Park, the city will foster digital trade clusters marked by both institutional and technological innovation.

(Source: Beijing Youth Daily)