It is reported that a pilot program of opening Beijing's service sector will allow overseas investors wider investment access in the capital city.
The program, an updated version of a plan launched two years ago, lists 10 areas for foreign companies to expand their investment in Beijing. For instance, they are now allowed to set up wholly owned air transport sales agency and to produce audio-visual products in some designated areas.
The program was first launched in 2015 and 90 percent of 141 goals were accomplished, which helped drive structural reform and restructuring of Beijing's economy, said Shen Jinsheng, the deputy director of Beijing Municipal Commission of Commerce.
China will expand market access to allow foreign capital to enter sectors including new-energy vehicle manufacturing, ship design, aircraft maintenance and railway passenger transportation.
The government will also make fiscal and taxation support policies, improve the investment environment in national-level development zones, and facilitate the cross-border flow of personnel.(Source: China Daily)
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