MODERN SERVICES INDUSTRY
Being highly internationalized, Chaoyang District is actively building a world-class high-end business district and has formed a modern service industry system that focuses on business services, financial services, and social services.
Pursuing high-quality economic development, exploring new models of opening-up for industrial development and park development
Make efforts to build a comprehensive and open modern service system. Accelerate the construction of the "economic brain" to serve the development of key industries; continuously promote the opening-up of six key industries which are business services, financial services, scientific and technological information services, cultural innovation, traditional Chinese medicine service, and social services; and strive to build a comprehensive , open-up and modern service system.
Highly focus on business services, and further explore ways and mechanisms for closer business cooperation between law firms in the Mainland of China and those in foreign countries, slightly relax the qualification requirements for foreign lawyers of no less than 3-year experience as a lawyer outside of China when the pilot domestic law firms hiring foreign lawyers as foreign legal advisers. Relax the application requirements for foreign investors to establish investment companies by reducing the total assets of foreign investors to no less than US$200 million in the year before the application; and remove the requirement for the number of foreign-invested enterprises established by foreign investors in China.
With regard to the cultural field, in the National Cultural Industry Innovation Experimental Zone, foreign investors will be allowed to establish entertainment venues and performance venue business units without restrictions on the investment proportion; and it will be permissible to set up wholly foreign-owned performance brokerage agencies and provide services nationwide. In addition, foreign investment in the production of audio and video products is allowed (limited to the Beijing National Music Industry Base, where the Chinese side shall have operation dominance and make final decision on content).
In the financial sector, expand the scope of eligible domestic institutional investors to investment management institutions initiated and established in Beijing by domestic and foreign institutions, including domestic securities companies, fund management companies, and futures companies; support eligible domestic institutions in Beijing to carry out pilot programs for eligible domestic limited partners to invest overseas; and allow eligible institutions to raise funds in RMB from eligible investors and invest these funds in overseas markets.
Give full play to the pilot and demonstration role of major park platforms. Meanwhile, implement policies to promote the expansion of opening up in the cultural sphere, striving to turn the National Cultural Industry Innovation Experiment Zone into a pilot area where trial policies are tested. Create a high-standard international communication area by taking advantage of the Green Park; promote the development of high-end, high-precision and sophisticated industries including financial services, scientific and technological services, software and information services, healthcare, and artificial intelligence driven by the Chaoyang Science Park; and strive to promote the development of international innovation clusters. Based on the CBD, deepen the construction of a centre providing international high-end business services.
