Beijing's municipal bureau of commerce recently released a new plan to promote foreign investment through further opening up the service sector. 

The plan aims to open key sectors such as telecommunications, data, healthcare, and green environmental services to foreign investors, and make business operations and living conditions more convenient for foreign enterprises and their employees.

In telecommunications and data services, the plan includes removing foreign ownership restrictions on internet data centers, content distribution networks, internet access services, online data processing, and information services at the national comprehensive demonstration zone for expanding opening-up in the service sector. Efforts will be made to facilitate foreign telecom companies in obtaining the necessary qualifications, according to the plan.

Moreover, Beijing said it will enhance the ease of cross-border data flow. A negative list for data export will be established in the pilot free zone to open up the service sector in the city, creating a green channel for eligible foreign-invested enterprises. Special focus will be given to pharmaceutical companies for data export, according to the plan.

In the healthcare sector, Beijing will support qualified doctors from foreign countries as well as China’s Hong Kong, Macao, and Taiwan in setting up clinics in the city, and encourage international cooperation in stem cell and gene research.

According to the plan, Beijing will also release version 4.0 of the recognized overseas professional qualifications directory and explore mutual recognition within the Beijing-Tianjin-Hebei region. The city will attract advanced vocational training resources from abroad to address the needs of emerging industries and critical human resources.

Moreover, Beijing will optimize residency policies for foreign employees, offering visas or residence permits valid for up to two years for senior executives of foreign companies planning to establish branches and subsidiaries. Accompanying spouses and family members will receive the same residency terms on a pilot basis. The plan also facilitates permanent residency applications for senior management and technical professionals recommended by eligible foreign-invested enterprises.

Over the past three years, Beijing has attracted over 100 multinational companies to establish foreign-funded R&D centers and more than 6,000 foreign-funded enterprises to operate in the city. The city continues to lead globally in the number of Fortune 500 company headquarters.

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