Beijing has introduced a new policy to further ease restrictions on foreign investment in six areas to accelerate the opening-up process.
The capital city is promising easier access to foreign capital for services related to science and technology, Internet and information, culture and education, finance, commerce and tourism, and health and medical services.
Foreigners who meet certain requirements will be able to buy property and apply to buy a gasoline-powered or new-energy car through a lottery-like online registry as Beijing citizens.
Foreign capital is now allowed to enter sales activity related to air cargo transportation. Requirements have also been relaxed for investment in construction and engineering design enterprises and human resource recruitment agencies.
Beijing will seek to attract more foreign capital banks and insurance companies to the city and support the development of joint venture securities firms. Other measures include encouraging foreign investment in the tourism sector and for-profit elderly care centers, and allowing eligible pharmaceutical firms to run clinical tests in Beijing.
To attract foreign investment and provide a more favorable business environment, the city vows to streamline processes related to opening a business and increase the protection of intellectual property rights by setting up a coordination center and offering legal services to companies.
The city will also seek to better support foreign talent by improving visa application processes and education options for foreign children.