New 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 the 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 land support, legal protection and technology.
On Oct 27 last year, the Industrial and Commercial Bank of China’s Chaoyang branch upgraded the single-currency master account for the cross-border capital pool of the China National Cereals, Oils and Foodstuffs Corporation’s financial subsidiary to an integrated foreign currency, multi-currency 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 for capital and become the first bank in Beijing to be approved for this business.
It has handled online foreign exchange settlement and payment services for capital in Beijing for many high-tech enterprises.
The multinational asset management company obtained the approval of the regulatory authority and is the first Qualified Domestic Limited Partner, or QDLP business, in Beijing.
Chaoyang launched a one-stop 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 assessments and identifications, introductions and settlements, foreign experts’ invitation to China, foreign-related marriage registration and children’s enrollment.
Another service center is located at the Chaoyang Financial Comprehensive Service Platform in Beijing Pilot Free Trade Zone.
The platform has four major sections of financial innovation display, service trade matching, event announcement collection, and policy consultation and interpretation, based on the needs of various enterprises in the free trade zone.
Chaoyang is home to a large number of headquarters for car companies such as Volkswagen, BMW, Daimler and Audi, and there is a large demand for R&D and test cars.
Beijing Customs issued an announcement that non-compulsory R&D test vehicles temporarily imported by eligible companies can be extended on the basis of the first six-month temporary entry period based on testing needs.