Beijing Large-Scale Opening Initiative
Beijing is progressing in its commitment to further opening its services sector globally, guided by the development of an extensive demonstration zone dedicated to the growth and liberalization of the national service industry. This initiative aims to open up the services trade market, improve access to the services sector, and cultivate a favorable open economy business climate.
Beijing plans to introduce strategies to address challenges faced by key industries and businesses, reinforcing its commitment to creating a stable, transparent, and predictable commercial environment on pivotal areas such as the digital economy, green finance, and intellectual property rights. The new policy includes approximately 170 measures, primarily aimed at aligning with international high-standard economic and trade rules.
Specifically, in healthcare, foreign doctors will be permitted to establish clinics in Beijing, and international collaboration in stem cell and gene technology research will be encouraged. Financial services will see enhanced market-driven collaboration between venture capital, equity investment entities, and financial institutions. Additionally, qualified overseas individuals will be allowed to offer securities and trade investment consultancy.
The promotion of the digital economy will involve the expansion of the exchange of Beijing data and the introduction of smoother data trade regulations. Foreign investment processes will be streamlined, offering incentives for foreign currency settlements and cross-border capital movements. Furthermore, Chinese companies will be supported in importing high-quality foreign audiovisual products and foreign investors looking to establish entertainment venues will only need district-level approval.