In an effort to support Beijing's further opening-up to the outside world, facilitate investment, better protect the legitimate rights and interests of foreign investors, and promote the stable growth of foreign investment, the People's Government of Beijing Municipality has approved the issuance of Measures of the Beijing Municipality for Further Strengthening Stabilization of Foreign Investment (hereinafter referred to as the Measures) by Beijing Municipal Commerce Bureau. The Measures, including 25 articles in total, will help create an open and convenient investment environment and protect the legitimate rights and interests of foreign investors.
As Wu Zhongnan, Director of the Foreign Investment Development Division of the Beijing Municipal Commerce Bureau, introduces at today's press conference, the Measures is a whole-process, integrated policy issued for the stabilization of foreign investment and features comprehensive content, clear priorities, and high precision to cover information about the development of the two zones, the headquarters economy, talent, tax revenue, and foreign exchange among other things. It effectively integrates the frontline policies of Beijing's opening-up, further raises policy awareness across all fields, and fosters an open and convenient investment environment for better protection of the legitimate rights and interests of foreign investors.
The Measures consists of seven parts in 25 articles: First, further expanding opening-up (three articles); second, pooling high-end and high-quality resources from across the globe (three articles); third, improving the environment for foreign investment (four articles); fourth, improving services for the daily life of foreign investors (four articles); fifth, attracting both capital and talent (three articles); sixth, delivering better services for promoting foreign investment (three articles); seventh, protecting the legitimate rights and interests of foreign-invested enterprises (five articles). The Measures features "Five Priorities", which are elaborated as follows.
Better Services for Foreign-Invested Enterprises
According to Wu, in terms of pooling high-end and high-quality resources across the globe, Beijing shall implement the Relevant Provisions of Beijing Municipality on Promoting the High-quality Development of Headquarters Enterprises and supporting measures to build a higher-level headquarters economy; Beijing will encourage foreign investors to set up regional headquarters and various institutions in the city, and support them to conduct business, add new functions and upgrade to Asia-Pacific headquarters or global headquarters. Qualified regional headquarters of multinational companies shall enjoy financial incentives and favorable policies such as facilitation of entry and exit for key personnel and customs clearance of goods.
Beijing will bring into full play the exemplary role of its national-level economic and technological development area, comprehensive bonded zones and other opening-up platforms, leverage the new batch of supporting policies for national economic and technological development zones and improve the allocation of production factors. The city will focus on internationally advanced enterprises, and encourage the clustering development of leading industries such as a new generation of information technology, new energy vehicles, biotechnology and health, robotics and intelligent manufacturing in the Beijing Economic-Technological Development Area.
Addressing Concerns Raised by Foreign-Invested Enterprises
According to Wu, in the process of policy formulation, competent authorities in Beijing carried out a lot of research and discussions, listened carefully to foreign-invested enterprises and responded to their shared demands with specific policy measures.
Beijing will thoroughly implement a system of pre-entry national treatment plus a negative list management for foreign investment, introduce both the national version and the pilot free trade zone version of special management measures for the access of foreign investment, and accelerate the implementation of the opening-up policy in the financial and automobiles sectors in Beijing. Beijing shall cancel the restrictions on the foreign shareholding ratio of information service businesses in application stores in certain areas (pilot free trade zones); strive for the trial of opening-up policies in the digital economy and trade in Beijing. Large-scale foreign-funded manufacturing enterprises, which comply with the national directory of foreign-funded industries encouraged by the state, can be included in the city's special projects for coordinated advancement.
Attracting Both Capital and Talent
According to Wu, Beijing will adopt the talent service system of "immediate response upon entry, processing in advance, and having procedures done on their behalf throughout the whole process" to build a service network for foreign talent. The mode of handling certificates for foreign talent will be reformed, gradually making visa services equally available in all districts of the city. The review and approval procedures for foreign talent coming to Beijing for work will be improved, and the pre-review of work permits for foreigners will be gradually delegated to lower level authorities to further streamline administration and raise efficiency. Based on the investment, tax payment, technological innovation of foreign-funded enterprises in the city, Beijing will provide targeted support for the introduction of talent based on their contribution and impact on the market.
Beijing will also redouble its efforts in the introduction of and issuance of residence permits for senior executives and technical talent in certain industries that serve Beijing's development policies. For the settlement of talent with skills urgently needed by the city or with outstanding performance and contribution, the age requirements may be relaxed.
Better Living Services for Foreign Investors
Together with Beijing Municipal Education Commission, Beijing Municipal Health Commission, Exit-Entry Administration of Beijing Municipal Public Security Bureau, Beijing Office of the State Administration of Foreign Exchange, Beijing Municipal Medical Insurance Bureau and other relevant departments, Beijing Municipal Commerce Bureau carried out in-depth research. After that, specific measures were formulated, including increasing the supply of high-quality educational resources; decentralizing the authority of approval and management of schools for children of foreign personnel; enhancing medical security, supporting qualified medical institutions in providing international medical services, and synergizing commercial health insurance and basic medical insurance; enabling Chinese permanent residence ID cards and foreign ID documents to be used in various living scenarios; facilitating services for high-level talent, and helping them handle affairs, exchange currency, apply for certificates, etc.; supplying more diversified international consumer goods and making life more convenient for foreign businessmen.
More Favorable Environment and Stronger Protection of the Legal Rights and Interests of Foreign-Invested Enterprises
According to Wu, the Measures clearly states that to formulate administrative normative documents involving foreign investment, the opinions of foreign-invested enterprises and relevant chambers of commerce and industry associations shall be solicited in advance, and legality reviews shall be conducted in accordance with regulations. The district governments shall strictly honor the policy commitments made to investors and foreign-invested enterprises in accordance with the law, and fulfill various contracts legally signed during events such as investment promotions. Beijing shall implement Beijing's Action Plan on Strengthening the Protection of Intellectual Property Rights, continuously improving the judicial and administrative law enforcement system for intellectual property protection.
All districts and relevant departments shall not set any limit on the supplier's ownership form, organizational and equity structure or country of origin in government procurement information release, supplier qualification determination, and bid evaluation, among other procedures. The fair participation of foreign-invested enterprises in government procurement shall be guaranteed in accordance with the law.
In addition, Beijing shall implement the Plan of Beijing Municipality for Strengthening and Regulating Interim and Ex-post Supervision to promote and deepen "Internet plus Supervision", "Double Randoms, One Disclosure" supervision, credit supervision, key projects supervision, inclusive prudential supervision and other forms and methods of supervision.
From January to November 2021, Beijing registered 1,713 new foreign-funded enterprises, up by 53.2 percent year-on-year. Contracted foreign investment was USD 37.5 billion, an increase of 130 percent year-on-year, and the actual utilization of foreign investment totaled USD 15.16 billion, up by 9.7 percent year-on-year.
(Reporter: Du Yan)
