Beijing to further ease market access for foreign investment

Beijing will further ease market access for foreign capital in six major areas, including internet services, information services and healthcare, the Beijing Daily reported on Tuesday, citing recently released guidelines from the Beijing municipal government.

The guidelines vowed to further open up the services sector by allowing foreign investment into sales agencies in the air transport industry and further lowering entry requirements for intermediary services.

The municipality’s foreign investment has maintained growth for 16 consecutive years since 2002, with its accumulated actual use of foreign capital reaching around $130 billion.

Beijing will further relax requirements for scientific and technological services, internet and information services, cultural and educational services, financial services, business and tourism services, and healthcare, the guidelines stated.

Beijing will also focus on the promotion of foreign investment in productive services and life services. For instance, foreign-backed enterprises will be encouraged to set up forprofit nursing homes for the elderly, service agencies offering both medical care and nursing services, and professional nursing service agencies to diversify care for the elderly.

Foreign talent working in Beijing will also enjoy all-round conveniences such as housing benefits and the municipality will increase support for foreign talent to lead or participate in major national and municipal science and technology projects.

In 2017, Beijing saw its foreign capital utilization further increase, with 1,309 new foreign-backed enterprises being established, up 22 percent yearon-year.