Beijing to further open up service sector
Updated: November 23, 2023 19:43

According to an official reply released by the State Council on Nov 23, the working plan from the People’s Government of Beijing Municipality and the Ministry of Commerce to accelerate the development of Beijing’s national comprehensive demonstration zone for expanding opening-up in the services sector is approved.

The working plan noted that deepening reform and expanding opening-up in key areas of the service sector will be pushed forward. Beijing will consider to establish new national internet exchange centers and to further open up value-added telecommunications service at an appropriate time.

In terms of healthcare and medical service, measures will be taken to support qualified doctors from foreign countries, Hong Kong, Macao and Taiwan to set up clinics in Beijing, the working plan said, adding that international cooperation in research and development on stem cell and gene will be supported.

Regarding to the financial service, market-based cooperation between venture capital, equity investment institutions and various financial institutions will be encouraged, while exploring the establishment of a trust property registration mechanism in which real estate and equity are considered as trust property, according to the working plan.

Agencies that provide audiovisual program services will be supported to introduce excellent foreign film and television work, optimize and standardize the management and service for key online audiovisual platforms.

In the meantime, efforts will be made to introduce high-quality international exhibitions, actively bid for annual meetings and exhibition activities of international organizations, and build a number of exhibition brands with international influence.

The working plan stressed exploring rules and norms for new business forms, with multiple measures including promoting the establishment of international rules for the digital economy through supporting Beijing in developing an international information industry and building a digital trade port; promoting the development and utilization of data resources; improving the modes and management methods of financial services; and boosting the development of green, low-carbon and circular economy in financial services.

Trade and investment institutional arrangements will be optimized through exploring a system of rules in line with the innovative development of trade in services, continuing to reduce trade costs and barriers, improving service modes for cross-border trade supervision, further facilitating cross-border capital flows, and supporting enterprises going global, according to the working plan.

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