Beijing: Beijing plans to build a comprehensive demonstration zone to fulfill China’s initiative to drive innovation-based development and further open up its services sector and digital economy.
The local government has signed new agreements with 26 companies, including Alibaba Health Information Technology, Star Alliance and SF Express.
The zone, located in northeast Beijing’s Shunyi District, will utilize the government’s “3+7+N” model.
“3” refers to the industrial zones: Tianzhu Free Trade Zone, Capital Airport Economic Demonstration Zone and Sino-German International Cooperation Industrial Park. These zones are set to serve companies in “7” sectors: aviation services, cross-border finance, cultural trade, business exhibition, digital trade, healthcare and international delivery and logistics.
“N” represents the overall goal to improve the business environment and facilitate free investment and trade in the zones.
Tianzhu Free Trade Zone, operating since July 2009, is the first airport-based free trade zone and the first Special Customs Supervision Zone in China.
Beijing Capital International Airport, China’s busiest and the world’s second busiest airport, is located in the district.
The demonstration zone comes after the decision announced by Chinese President Xi Jinping at the opening of the 2020 China International Fair for Trade in Service (CIFTIS) in Beijing in early September.
The new zone will “serve as a platform of high-standard opening-up for the coordinated development of the Beijing-Tianjin-Hebei region, and open up new horizons for reform and opening-up at a higher level,” Xi said while addressing the summit via video.
The zone covers 28.5 square kilometers, the largest cluster of service platforms in the city.
The pandemic has put a spotlight on the opening-up and reform measures in the healthcare sector.
–The Daily Mail-CGTN News exchange item
