Beijing to Further Open up Services Sectors and Boost Foreign Investment

On June 7, 2024, Beijing Municipal People’s Government released the Action Plan on Expanding Opening-up of Services Sectors and Boosting Foreign Investment (Exposure Draft) (the “Action Plan”) to seek public comments until June 14, 2024.

The Action Plan specifies 15 key measures in three aspects, which include promoting the wider opening-up of services sectors such as telecom, cross-border data flow, healthcare, and green development, supporting and coordinating high-level opening-up and high-quality development with guaranteed services concerning capital flow and entry and exit facilitation, and implementing safety management. It said that qualified doctors from foreign countries or Hong Kong, Macao and Taiwan region are encouraged to open clinics in Beijing, while qualified medical institutions are supported to carry out clinical trials of stem cells and others. The Action Plan also calls for improving the policies that support the development of headquarters by optimizing the relevant identification standards, encouraging foreign-funded enterprises to establish regional headquarters of multinational corporations in Beijing, and allowing those meeting the conditions to enjoy preferential policies.