Beijing on Thursday passed a regulation on promoting reform measures to facilitate high-tech innovation, trade, and investment in the China (Beijing) Pilot Free Trade Zone (FTZ). The regulation will take effect on May 1.

According to the new rule, Beijing will give priorities to developing the medical and health industry, professional service, education, culture and tourism, and aviation services, in order to build a platform for the integrated development of the modern service industry. 

Pursuing greater opening-up is one of the major goals for establishing the Beijing FTZ. The city specifies a chapter on promoting trade and investment openness in the regulation. It stipulates that the Beijing FTZ will roll out preferential policies to promote investment and create new ways to attract foreign investment. 

To ensure that market entities enjoy equal market access, the Beijing FTZ will implement a management system combining pre-establishment national treatment and negative list in accordance with the law. 

According to the new rule, the Beijing FTZ will be become an international scientific and technological innovation hub. It says Beijing will attract leading technology companies to set up their R&D centers here, and draw internationally renowned R&D institutions to the FTZ. 

Efforts will also be made to support the building of a platform for the transformation of scientific and technological achievements, and explore intellectual property protection measures in the fields of the internet, big data, artificial intelligence, among others, according to the regulation.

In addition, the regulation also details multiple measures to provide support for talents. Beijing FTZ encourages market entities, colleges, R&D institutions to draw talents from home and abroad with preferential policies, such as easier access to housing, healthcare, and work-permit applications. The FTZ also plans to reform the hukou (household registration) system to attract talents.

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