Beijing furthers trade, investment facilitation

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Beijing rolled out a slew of measures recently to further its efforts to facilitate trade and investment.

According to municipal officials on Monday, the municipality will spearhead the alignment with high-level international free trade rules in a fifth round of reform, in an effort to foster a fair, transparent, and predictable business environment.

Specifically, it will advance negative list management of cross-border trade in services, explore the building of a national demonstration zone for innovative development of trade in services, and push for innovations in import regulation systems, business models, and supporting services.

It will also develop one-stop services for foreign investment, facilitate market access for foreign enterprises, establish a system of international professional certificate list and the standard for foreign talent accreditation, and introduce more foreign high-end talents.

In addition, it will formulate an action plan covering the whole process of cross-border trade, build a trade promotion platform, and further reform the supervision of customs clearance at ports.

Data shows that, in the first 11 months, 1,713 foreign-funded enterprises were established in Beijing, up 53.2% year on year; its contractual foreign investment reached US$37.5 billion, an increase of 130%; and its foreign investment in actual use reached US$15.16 billion, up 9.7% year on year.

According to data from the General Administration of Customs, from January to November, Beijing's customs clearance time of import and export was 29.55 hours and 0.91 hours, respectively, both better than the national average, and 72.57% and 87.69% less than that of 2017.

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