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Policy & Politics

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China's Beijing planning new round of opening-up and reform in service industry

August 10, 2018


Abstract : China's Beijing is planning a new round of opening-up and reform in the service industry, said the local authority on Thursday.

北京

BEIJING, Aug. 10 (Xinhua) -- China's Beijing is planning a new round of opening-up and reform in the service industry, said the local authority quoted by the Xinhua-run cnstock.com on Thursday.

According to Beijing Daily, Beijing will further expand its opening-up in specific areas that are in line with its industry development direction as the capital city of the country.

Meanwhile, it will strive to improve its business environment to attract foreign investors.

In May 2015, the State Council, China's cabinet, approved Beijing to launch a three-year pilot program for further opening-up in the service industry. A series of open measures have pushed the foreign direct investment (FDI) in Beijing to a new level.

Last year, Beijing saw the amount of foreign investment in actual use stand at 23.26 billion U.S. dollars, ranking first in the country for the first time, up 180 percent compared with that in 2014. To be specific, 95.4 percent of the foreign investment went to its service industry last year.

In the first half of this year, the amount of foreign investment in Beijing increased 6.2 percent year on year, achieving 78.7 percent of the annual target. (Edited by Hu Pingchao, hupingchao@xinhua.org)


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