Policies broaden scope for opening-up
As a key district included in the development of Beijing’s new pilot free trade zone and a zone for further opening up the services industry, Chaoyang is broadening its domestic and international trade while creating a world-class business environment attracting talented professionals, local officials said.
The district is home to many of the capital’s key functional areas, such as Beijing’s central business district, the Jinzhan International Cooperation Service Zone, the 2008 Beijing Olympic Games venues area and the National Cultural Industry Innovation Experimental Zone.
According to the district government, it aims to build a more international and convenient business environment amid the construction of the free trade zone, covering the flow of capital across the border, the safe and orderly flow of data and employment to lend support, legal protection and technology.
On Oct 27 last year, Industrial and Commercial Bank of China’s Chaoyang branch upgraded the single-currency master account for the crossborder capital pool of the China National Cereals, Oils and Foodstuffs Corporation’s financial subsidiary to an integrated foreign currency, multicurrency account.
This marked the first pilot policy for the integration of domestic and foreign currencies in Beijing.
China Merchants Bank’s Beijing branch has developed an online foreign exchange settlement and payment business system and became the first bank in Beijing to be approved for this business. It has handled online foreign exchange settlement and payment services in Beijing for many high-tech enterprises.
A multinational asset management company has obtained the approval of the regulatory authority and is the first qualified domestic limited partner, or QDLP business, in Beijing.
Chaoyang launched a onestop service center for international talents and the CBD international talent port of China (Beijing) Pilot Free Trade Zone in November.
The district now has a total of eight one-stop service centers. The CBD location, in the Beijing Fortune Center, has the most complete business functions.
It integrates 120 service items for 19 functional departments, covering 42 acceptance matters such as foreign work permits, residence permits, permanent residence recommendations, talent assessment and identification, introductions and settlements, foreign experts’ invitation to China, foreign-related marriage registration and children’s enrollment.