A work plan on further reforming and opening up Beijing’s service industry was recently approved by China’s State Council.

Since the State Council sanctioned a three-year pilot reform for opening up the service industry in Beijing in May 2015, the pilot program has helped bolster the Beijing-Tianjin-Hebei regional coordinated development strategy and the building of an open economic system.

According to the work plan, Beijing will roll out a string of new measures for further opening up the service sector. In the science and technology service field, market access will be given to foreign capital to invest in air transport sales agency, and qualification requirements for foreign investment in construction and engineering design firms will be loosened. In the culture and education service field, foreign businesses will be allowed to invest in the producing of audio and video products in specific areas. In the culture and entertainment field, foreign businesses can set up entertainment or performance venues in entertainment hubs without a limit on their investment ratio. In the financial service field, newly established or reformed foreign-owned banks or joint-venture banks are allowed to apply for RMB trading. In the commerce and tourism service field, market access will be improved for investing entities and human resources agencies. In the health care service field, qualified foreign drugs are allowed to carry out clinical trials in Beijing.

Beijing will advance the reform of outbound investment management with new measures rolled out to increase convenience of outbound investment and upgrade international cooperation on services.

New measures also include accelerating trade facilitation in services, continuing to innovate financial management system, improving mechanisms for senior foreign personnel, and promoting the opening-up of key industries in Beijing-Tianjin-Hebei region.

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