China’s capital to open up service sector wider
China DailyThe State Council, in a circular issued on Sept 7, approved a plan for launching pilot programs and establishing demonstration zones in Beijing, as part of efforts to advance opening-up in the service sector. The move aims to solidly frame policies for expanded opening-up in services, with an emphasis on trade and investment facilitation, and develop an international business environment backed by the rule of law and market principles by 2025, thus creating a leading model for a more open service industry across the country. For alignment with international systems, efforts should be made to enhance liberalization and facilitation of investment and trade, and improve financial and tax policies supporting the high-tech industry, according to the plan. Smooth cross-border flow of capital, secure global transfer of data, easy access to working and living in China for foreign talent, and sufficient land and technological support are all necessary for opening-up of the service sector, the plan added.