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New policy expands tolerate for foreigner to invest in Beijing

Updated:2019-12-9 15:21:35    Source:www.tannet-group.comViews:440

December 3, Beijing people's government information office, Beijing bureau of commerce held a press conference. The Beijing news learned from the meeting that Beijing's new round of opening up of the service sector has set nine specific measures.

     Leasing and business services
New measures: support the establishment of qualified Chinese-foreign joint venture travel agencies in Beijing to engage in outbound travel except for Taiwan; Wholly foreign-owned travel agencies set up in Beijing are allowed to operate the outbound travel business of Chinese citizens on a trial basis (except in Taiwan)

Interpretation: the new measures are conducive to further enriching the supply of tourism products in the outbound tourism market, strengthening the healthy competition within the industry, introducing the advanced concepts and business models of the international tourism market, stimulating the investment and consumption of the tourism market, and better meeting the growing demand of tourists for tourism culture and spirit.

 Information transmission, software and information technology services
New measures: expand the opening of comprehensive pilot demonstration zones and demonstration districts in Beijing, and remove restrictions on foreign ownership in value-added telecommunications services such as Internet access services (which are limited to providing Internet access services to users).

Interpretation: according to the special management measures on access to foreign investment (negative list) (2019 edition), the government has lifted the limit on the proportion of foreign investment in "domestic multi-party communication" and "storage and forwarding" to no more than 50%. This time, Beijing launched the aforementioned measures, which will help attract more foreign Internet companies to set up relevant telecom enterprises in Beijing, further enrich the main body of telecom market services, form healthy competition, and provide more diversified services for users.

 Scientific research and technology services
New measures: Cancel the qualification of certification institution for foreign-invested enterprises, the foreign investor shall obtain the approval of the accreditation body of the country or region where the foreign investor is located and have more than 3 years of business experience in certification activities

Interpretation: the new opening measures in Beijing cancel the relevant requirements for foreign investment enterprises to set up certification bodies and make it more convenient for foreign enterprises to invest in Beijing. This is one of the concrete measures to promote the construction of an international exchange center and a practical action to continuously optimize the software and hardware environment for international exchange services in Beijing.

 Health and social work
New measures: relax the access of private non-enterprise units funded by foreign investors
to run non-profit nursing institution for the aged.

Interpretation: after the implementation of the opening up measures, Beijing will allow foreign investors to register private non-enterprise units as legal persons in the form of donations and set up non-profit pension institutions. This is an important measure to further open up the domestic market and increase the supply of old-age care services, which is conducive to stimulating the enthusiasm of foreign capital to donate funds and set up non-profit old-age care institutions.

 Culture and Arts
New measures: select specific areas where the entertainment industry is concentrated and allow foreign investors to set up performance venues, business units and entertainment venues, without restrictions on the proportion of investment; Select specific areas where the cultural and entertainment industries gather, allow the establishment of wholly foreign-owned performance agencies and provide services nationwide.

Interpretation: several open measures will further enrich the cultural market management main body, to introduce the domestic and foreign outstanding performance into Beijing market, provide more and better cultural products and services, better meet people's growing spiritual and cultural needs, can also help push consumption culture, promote the Beijing cultural market prosperity, strengthen the cultural center positioning.

Radio, television, film and video
New measures: allow foreign investment in the production of audio and video products (limited to the cooperation in the Beijing national music industry base, China Beijing publishing creative industry and Beijing national digital publishing base, and the Chinese side shall have the leading power of operation and the power of final adjudication of content).

Interpretation: through the implementation of the opening up measures in a specific region, on the one hand, it will enhance the attraction to foreign investment, attract more interested foreign investors to set up enterprises in the region, and expand the industrial scale. On the other hand, the utilization of foreign capital can stimulate the creativity of enterprises and promote the transformation, upgrading and integrated development of audiovisual production.

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