Beijing recently unveiled three sections of its newly established pilot free trade zone (FTZ) amid fresh efforts in building a higher level of opening-up in China’s capital city.
The technology innovation section, which opened on Sunday, spans 31.85 square kilometers including a part of the Zhongguancun Science City and the surrounding areas of the Life Science Park. It will focus on the development of next-generation information technologies, bioscience, and technology services.
The international business service section opened on Monday. It covers 48.34 square kilometers, and includes areas surrounding the Beijing Capital International Airport, the central business district (CBD), the Jinzhan International Cooperation Service Area, the business district of Beijing’s sub-center, and nearby areas of the Zhangjiawan Design Town. The section’s focus will be on digital trade, cultural trade, exhibitions, healthcare, international logistics, and cross-border finance.
The 39.49-square-kilometer high-end industry section, also unveiled on Monday, covers areas west of the Beijing Daxing International Airport as well as a part of the Beijing Economic Technological Development Area. This section will prioritize industries like international finance, culture and creativity, biotechnology, and wellness and health.
According to the Beijing pilot FTZ master plan, the zone’s construction aims to build the city into a global influential innovation center, as well as to create a leading area primed for the expansion of the service sector and a pilot zone for the digital economy.
The plan also aims to build the zone into a high-level opening-up platform for the coordinated development of the Beijing-Tianjin-Hebei region.