The Beijing Capital International Airport economic zone saw 1,640 companies registered here from September 2020 to this February. The boom came after China approved the establishment of the Beijing pilot free trade zone and the comprehensive demonstration zone for the expansion and opening up of the city's service sector last September.

The registered capital of the newly established companies came in at approximately 12.3 billion yuan (US$1.89 billion). Among the 1,640 companies, 14 are foreign-funded ones. They brought the total number of companies registered in the area to over 8,000.

The zone is the largest and most internationalized airport economic zone in China with the largest number of aviation service companies. 

Furthermore, it has set up the country's first platform for sharing aviation materials as part of the efforts for further opening up the service sector. The platform allows aviation materials previously confined in certain bonded area by tariffs to flow more freely to other cities as bonded materials.

According to recent data, the zone has helped certain airlines to save the costs for circulating such aviation materials by more than 20%.

In addition, companies here would not have to transit their goods via Hong Kong - which usually takes around half a month - to enjoy duty drawback. Instead, the process can now be fulfilled via the bonded area in the zone. This way, customs clearance would take only a day.

The zone has also organized its aircraft maintenance companies to apply for tariff adjustments. With a recent plan from the State Council in place, companies here can save about 2 million yuan in customs duties according to preliminary estimates.

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