Since last year, Beijing has rolled out 251 policies to open up the service sector, including implementing 11 measures that encourage innovation and startups to open up the financial sector and attract talents, according to the Beijing Municipal Commerce Bureau.

Beijing has become China's first pilot city to allow for sales of pharmaceutical products via cross-border e-commerce platforms, and it also offers tax incentive for aircraft engine maintenance to save business cost.

In the financial sector, Beijing has taken the lead in piloting equity investment and the transfer of venture capital shares. In healthcare sector, the world-leading pharmaceutical company Seragon opened its Asia-Pacific headquarters in Beijing, and China's first international research-oriented hospital is under construction in the city.

To create a more friendly business environment and spur innovations, Beijing piloted the income tax reduction policy for technology transfers and established a one-stop service center for international professionals working in Beijing, addressing their needs for work permits, social insurances, marriage registration, etc.

By exploring new policy measures and providing innovative services, Beijing is building itself into a pilot free trade zone as well as a comprehensive demonstration zone for further opening up the service sector.

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