CHINA Beijing to further open its service sector

CHINA

Beijing to further open its service sector

CGTN

02:43, April 11, 2019

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(Photo: CGTN)

Beijing, China's first city to launch the service program, is committed to starting a new round, opening its service industry wider to the world.

Different from the free trade zone, the capital's pilot programs focus on sectors like finance, telecommunication, education, and other service industries. 

Over the past three years, two rounds of pilot plans including general and detailed ones were introduced under the pilot programs. More than 220 pilot tasks and 21 opening-up measures were implemented. Li Chenggang, assistant minister of commerce said the services sector has become a strong economic driving force for Beijing.

“About 640,000 new enterprises have opened across the city. The actual use of foreign capital reached 23 billion U.S. dollars in 2017, ranking first nationwide for the first time. And in 2018, the added value of the services sector accounted for 81 percent of GDP," Li said. 

Meanwhile, the new round of pilot programs will expand its market access to include 14 policies in six sectors. Efforts will be made to shorten negative lists for foreign investment and deepen reforms in foreign exchange, cross-border business, and finical markets. 

Yin Yong, vice mayor of Beijing said, the city has also started the first trial for many policies in foreign investment and various enterprises.

Beijing's sub-center will be a leading region for the new pilot project, where administrative service reforms, culture, and tourism, as well as high-end businesses, will be prioritized.

 

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