Industry News | The State Council approved the work plan for Beijing to deepen the construction of a comprehensive demonstration zone for the expansion and opening up of the national service industry

A few days ago, the State Council approved the "Work Plan for Supporting Beijing to Deepen the Construction of a Comprehensive Demonstration Zone for the Expansion and Opening-up of the National Service Industry" (hereinafter referred to as the "Work Plan"). Combined with the development needs of telecommunications, health care, finance, culture and education, professional services and other industries, the "Work Plan" puts forward more than 170 pilot tasks from six aspects: deepening reform and expanding opening up in key areas of the service industry, exploring the rules and norms of emerging business formats, optimizing trade and investment institutional arrangements, improving the public service policy environment, strengthening the rights and interests protection mechanism, and improving the risk prevention and control system.

1. Telecommunications Services

In Beijing, restrictions on the proportion of foreign investment in value-added telecommunications services such as information service business (limited to application stores only, excluding online publishing services) and internet access service business (limited to providing users with internet access services) will be lifted, and research will be conducted to further expand the opening of value-added telecommunications services in a timely manner.

2. Healthcare Services

Support eligible foreign and Hong Kong, Macao, and Taiwan doctors to open clinics in Beijing.

For innovative pharmaceutical devices (excluding large medical equipment) registered in Beijing and approved for listing within China, they shall be "purchased in batches" at designated medical institutions according to clinical needs. Support the establishment of a green channel for the approval of clinically urgently needed imported pharmaceutical equipment in Beijing.

3. Financial services sector

Explore and support insurance asset management companies to issue reasonably sized RMB denominated asset management products overseas, while maintaining account independence and risk isolation.

4. Cultural and educational service field

Support audiovisual program service institutions to introduce excellent overseas film and television works, optimize and standardize the management and services of key online audiovisual platforms. Decentralize the approval authority for foreign investment in establishing performance venues, entertainment venues, and internet access service venues to the district level.

5. Professional service field

Allow eligible individuals from overseas to engage in securities investment consulting and futures trading consulting services. Dynamically improve the recognition list of overseas vocational qualification certificates and improve supporting policies.

6. Promote the construction of international rules for the digital economy

Support Beijing in building an international information industry and digital trade port, strengthen international cooperation in the digital field, promote the formulation of relevant international rules, and strive to achieve mutual benefit and win-win cooperation in areas such as cross-border data transmission, digital product security testing and certification, and orderly opening of data service markets.

7. Promote the development and utilization of data resources

Support Beijing in actively creating a leading area for data infrastructure systems, and promote the establishment and improvement of data property rights systems, data element circulation and trading systems, data element income distribution systems, and data element governance systems.

Explore the development of industry data classification and classification guidelines and important data catalogs for autonomous driving, biological genetics, and other industries, with the focus on the export needs of enterprise data in key fields as the driving force, clarify the identification and recognition standards for important data, and provide support for data security protection.

8. Optimize financial service models and management methods

Encourage financial institutions to support the development of small and medium-sized enterprises listed on the Beijing Stock Exchange (Beijing Stock Exchange) and the National Equities Exchange for Small and Medium Enterprises (New Third Board), explore and improve the inclusive financial policy and business assessment system, and further optimize the financing environment for small and medium-sized enterprises.

Moderately relax the guarantee requirements for loan financing of listed enterprises on the Beijing Stock Exchange.

Research and timely launch traded open end index funds (ETFs).

Actively promote the opening up of the Beijing Stock Exchange to the outside world. Encourage securities companies and professional service institutions to rely on the Beijing Stock Exchange and the New Third Board to carry out business and participate in serving the full lifecycle development of small and medium-sized enterprises.

Under the premise of controllable risks, support overseas insurance companies to directly initiate the establishment of insurance asset management companies in Beijing.

Allow all funds that are truly compliant and related to foreign investors' investments to be freely remitted in and out without delay in accordance with the law and regulations.

9. Improve the convenience of cross-border capital flow

Explore and optimize the negative list management mode under capital projects, and reduce the use of negative lists in corporate capital project income. Explore and optimize the balance management model of qualified domestic limited partners (QDLP) and qualified overseas limited partners (QFLP) pilot enterprises, and simplify foreign exchange registration procedures. Promote the reform of foreign debt registration and management methods, and explore how banks can handle the foreign debt registration of non-financial enterprises. Promote pilot projects to facilitate cross-border financing. Deepen the pilot of a unified domestic and foreign currency bank settlement account system, and continue to expand the scope of participating banks.

10. Innovative Talent Full Process Service Management Model

Convenient visa application for talent introduction, providing visa convenience for short-term scientific research in China. Provide customs clearance convenience for foreign experts holding residence permits to enter and exit the country. Allowing accompanying family members of foreign invested enterprises in Beijing to transfer experts internally to enjoy the same period of stay as the expert. For senior management personnel of foreign enterprises planning to establish branches or subsidiaries in Beijing, visas or residence permits valid for no more than 2 years shall be issued, and accompanying family members shall be allowed to enjoy the same period of stay. Promote the "one-stop acceptance and parallel approval" of foreign work permits and work residence permits throughout the city.v

Link to original article：https://www.gov.cn/zhengce/zhengceku/202311/content_6916721.htm