Beijing's 'two-zone' construction sees major progress in policy implementation

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Over the past two years, Beijing has completed all tasks involved in its "two-zone" construction plan, with nearly 70 innovative and pioneering policies being implemented and more than 140 landmark projects and functional platforms being introduced.

Fueled by the "two-zone" construction, Beijing's actual use of foreign capital amounted to $15.24 billion from this January to August, up 37.9% year on year. Specifically, the proportion of foreign investment utilized in the city's service sector reached over 90% of the total.

Cross-border trade has been further facilitated in Beijing over the past two years due to its innovative policies, such as bonded logistics, smart customs supervision solutions in bonded areas, and diversified business models concerning duty-free goods, bonded goods, and cross-border e-commerce. Official data shows that Beijing's overall customs clearance time for imported goods came in at 25.14 hours in August, while that of exported goods was only 0.61 hours, both reaching the best level in history.

Beijing has also worked to align its rules with international free trade agreements and attracted a group of major projects. So far, more than 130 domestic-funded projects, each with an investment of over 1 billion yuan, have been set up in Beijing, accounting for over 70% of the total domestic-funded investment.

In addition, Beijing has rolled out talent policies by promoting recognition of overseas career qualifications and allowing overseas talents to take China's vocational qualification exams. It is also expediting efforts to build carbon emission allowance systems and establish a trading market for environmental rights. 

Regarding intellectual property rights protection, Beijing allows foreign patent agencies to set up resident representative offices in the city. It also expanded pilots for cross-border e-commerce sales of imported pharmaceuticals, with the number of imported medicines being expanded to 66 categories and pilot enterprises in the sector being increased to six.

Beijing's "two-zone" construction will continue to align with global high economic and trading standards and help promote the city's reform and opening-up in a sound and sustained manner, said Liu Meiying, full-time deputy director of the Leading Group Office of the "Two Zones" Development.

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