Xinhua Silk Road: Beijing Daxing rolls out preferential policies to bolster "two-zone" development

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Sep 10, 2021, 04:47 ET

BEIJING, Sept. 10, 2021 /PRNewswire/ -- Daxing District in southern Beijing has announced a pack of business-friendly policies to bolster the "two-zone" construction of the capital city towards high-quality development.

The Daxing Comprehensive Industry Global Conference held during 2021 China International Fair for Trade in Services (CIFTIS) that closed on September 7, 2021.

Daxing will provide companies with various support in such areas as industry cultivation, credit and capital access, talent service system, while build itself more internationally through incentives over foreign business and foreign capital utilization, announced Gao Niandong, executive deputy chief of Daxing District at Daxing Comprehensive Industry Global Conference held during the six-day 2021 China International Fair for Trade in Services (CIFTIS) closed Tuesday.

For industry cultivation, the district supports biopharmaceutical companies with a maximum of 5 million yuan to obtain professional qualification certifications such as GLP, GCP, CNAS, CMA, grants companies each a maximum of 3 million yuan annually for developing professional service platforms such as CRO, CDMO, CMO, and CSO, and encourages the development of the first store of commercial brands with a maximum subsidy of 5 million yuan for a single store.

In terms of financial support, the district will provide credit support for key industries to ease their burden while help companies get access to various capital market.

For foreign investment, the district will grant up to 20 million yuan to key foreign invested projects and provide multinational companies and Fortune 500 companies that establish regional headquarters and foreign R&D headquarters in the district with a maximum of 10 million yuan in support.

The policy pact serves Daxing for further utilizing its location and resource advantages which would be transformed into industrial and economic advantages along its efforts on supporting capital Beijing's "two-zone" development, Gao said.

It is noted that the "two zones" refer to the pilot free trade zone and the national comprehensive demonstration zone for expanding opening-up in the service sector.

In 2015, Beijing became the only pilot city in the country to open the service industry wider, and in 2020, the central government offered support for Beijing to become a national comprehensive demonstration zone of service industry opening-up. The China (Beijing) Pilot Free Trade Zone was officially unveiled in September 2020.

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SOURCE Xinhua Silk Road