On September 21, 2020, China announced three new free trade zones.

According to the overarching plan for pilot free trade zones in Beijing, Hunan and Anhui released by the State Council of China, the China (Beijing) Pilot Free Trade Zone, covering about nearly 120 square kilometers, consists of three areas dedicated to sci-tech innovation, international business services and high-end industries. Beijing will perform more missions. 

In his remarks at the 2020 China International Fair for Trade in Services, Chinese President Xi Jinping said that China was confident and able to promote cooperation through opening-up and proposed new measures of further opening-up, giving Beijing new missions in reform, innovation and upgrading of trade in services.

As a leading player in the service sector and digital economy, China (Beijing) Pilot Free Trade Zone has an ambitious goal. It aims to become a sci-tech innovation center with global influence, a demonstration zone for further opening up the service sector, and a pilot zone for a digital economy.

The three areas of the China (Beijing) Pilot Free Trade Zone have all been launched: the area of sci-tech innovation on September 27, 2020, and the areas of high-end industries and international business services on September 28, 2020. These areas complement each other in space and function, creating new opportunities of industrial development.