The Beijing trade group inked seven deals with domestic and overseas organizations and businesses worth about 7.88 billion yuan (US$1.19 billion) during a themed promo event held Thursday at the ongoing 3rd China International Import Expo (CIIE).

The promo event centered around the introduction of the Beijing International Fair for Trade in Services (CIFTIS), policy briefings on Beijing's opening up of the service sectors, its pilot free trade zone and several major districts, and the latest development of the 2022 Winter Olympics and Paralympics.

The State Council, China's cabinet, recently announced plans to build a comprehensive demonstration zone for expanding opening-up in the service sector as well as a pilot free trade zone in Beijing.

Yan Ligang, head of the city's municipal commerce bureau, said the plans have facilitated the launch of over 200 opening-up measures that will help to provide a better environment for business innovation and development.

Yan said the new policy measures mark a major step in Beijing's reform and opening up and are bound to create huge strategic opportunities.

Besides policy introductions, Beijing Investment Promotion Service Center as well as several district governments have set up inquiry desks for business consultations.

Among the seven projects signed at the event, four were purchasing deals, two were investment deals, and one was about headquarters relocation.

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