A total of 52 Chinese and international financial organizations established operations in Beijing in 2024, driven by the city's accelerated push towards institutional openness in the financial sector, according to a recent press conference.

Since launching the "Two Zones" initiative, Beijing has led the nation for three consecutive years in the national service trade opening-up pilot assessment, implementing over 140 breakthrough policies and spreading more than 70 institutional innovations nationwide.

The State Council has issued several measures since 2023 to support the China (Beijing) Pilot Free Trade Zone and other qualified zones in meeting international standards for institutional opening-up.

"The series of measures reflects our country's firm determination to expand institutional opening-up and strong support and high hopes for the city's high-level opening-up," said Guo Wenjie, deputy director of the Beijing Municipal Commerce Bureau.

Driven by institutional innovation, Beijing saw the establishment of 2,012 foreign-invested enterprises last year, a 16.4% year-on-year increase, outpacing the national average by 6.5 percentage points.

Beijing is also rapidly emerging as a hub for green and tech-focused equity investment funds. In 2024, eight new government investment funds were launched, targeting artificial intelligence, green energy and low-carbon industries. Five state-owned banks committed 53 billion yuan ($7.2 billion) across more than 100 projects to support technological innovation, according to Wang Ying, deputy direct general of Beijing Local Financial Supervision and Administration. 

Data shows that Beijing's financial sector achieved a value-added of 815.42 billion yuan in 2024, a year-on-year increase of 7.6%, marking the highest growth rate in nearly five years.

Foreign investors' confidence in Beijing continues to grow with the city's improved international business environment. Over 200 foreign banks and insurance institutions have established operations in Beijing, with foreign banks achieving double-digit asset growth in 2024, the highest in eight years. Foreign insurance companies operating in Beijing also reported increased premium income while maintaining strong financial stability.

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