Page 6 - THE SOUTH CHINA BUSINESS JOURNAL
P. 6
PTH
BEIJING’S
NEW PLAN
To BoosT The service indusTry
and aTTracT Foreign invesTmenT
By Arendse Huld, Posted by China Briefing
A new plan to boost the Beijing China’s State Council has agreed in principle on
service sector outlines a host a new plan to expand and develop the Beijing
of tasks to improve the city’s service sector. The Working Plan for Supporting Beijing
investment environment and ease in Deepening the Construction of a Comprehensive
of doing business. Key measures Demonstration Zone for the Expansion and Opening Up
targeting foreign investment include of the National Service Industry (the “Working Plan”)
expanding market access to foreign outlines 23 tasks for developing the city’s service industry,
companies in key service fields, including several aimed at increasing the participation of
facilitating cross-border personal foreign companies.
information transfer and cross-
border funding, and optimizing visa While not exclusively aimed at attracting foreign
procedures for foreign talent. investment, the Working Plan outlines several measures to
improve the business environment for foreign companies,
including lifting foreign ownership caps in certain sectors,
optimizing visa procedures, improving cross-border
data transfer and funding procedures, and streamlining
government service and administrative procedures.
Below, we highlight some of the key commitments to improving Beijing’s business environment and enhancing
the foreign investment landscape raised in the Working Plan.
Expanding access for foreign companies in key service sectors
The Working Plan commits to improving market access and lifting foreign ownership caps in several industries,
including telecommunications, medical services, culture and education, and professional services.
A key pledge is to remove the foreign ownership cap in the field of value-added telecommunications
in Beijing. The specific sectors include information services businesses (such as mobile app stores), internet
access service businesses, and other value-added telecom businesses. However, restrictions
will remain for online publishing services and Internet access services to anything other than individual users.
In addition, it states that Beijing will further research and expand the opening of value-added telecom services
“when appropriate”, indicating further relaxation is to come.
3 AMCHAM SOUTH CHINA
BEIJING’S
NEW PLAN
To BoosT The service indusTry
and aTTracT Foreign invesTmenT
By Arendse Huld, Posted by China Briefing
A new plan to boost the Beijing China’s State Council has agreed in principle on
service sector outlines a host a new plan to expand and develop the Beijing
of tasks to improve the city’s service sector. The Working Plan for Supporting Beijing
investment environment and ease in Deepening the Construction of a Comprehensive
of doing business. Key measures Demonstration Zone for the Expansion and Opening Up
targeting foreign investment include of the National Service Industry (the “Working Plan”)
expanding market access to foreign outlines 23 tasks for developing the city’s service industry,
companies in key service fields, including several aimed at increasing the participation of
facilitating cross-border personal foreign companies.
information transfer and cross-
border funding, and optimizing visa While not exclusively aimed at attracting foreign
procedures for foreign talent. investment, the Working Plan outlines several measures to
improve the business environment for foreign companies,
including lifting foreign ownership caps in certain sectors,
optimizing visa procedures, improving cross-border
data transfer and funding procedures, and streamlining
government service and administrative procedures.
Below, we highlight some of the key commitments to improving Beijing’s business environment and enhancing
the foreign investment landscape raised in the Working Plan.
Expanding access for foreign companies in key service sectors
The Working Plan commits to improving market access and lifting foreign ownership caps in several industries,
including telecommunications, medical services, culture and education, and professional services.
A key pledge is to remove the foreign ownership cap in the field of value-added telecommunications
in Beijing. The specific sectors include information services businesses (such as mobile app stores), internet
access service businesses, and other value-added telecom businesses. However, restrictions
will remain for online publishing services and Internet access services to anything other than individual users.
In addition, it states that Beijing will further research and expand the opening of value-added telecom services
“when appropriate”, indicating further relaxation is to come.
3 AMCHAM SOUTH CHINA
