Source: China State Council Information Office 3
In 2024, Beijing achieved significant strides in building the Integrated National Demonstration Zone for Greater Service Sector Openness, and the China (Beijing) Pilot Free Trade Zone (FTZ) – together referred to as the “two zones.” According to the Beijing Municipal Commerce Bureau, the city added 7,187 new projects, and implemented 85.7% of the tasks outlined in the State Council-approved work plan.
By the end of 2024, the total number of projects under the “two zones” initiative reached 9,945, with the estimated investment totaling 1.02 trillion yuan (US$140.6 billion).
The city’s number of newly established foreign-invested companies rose by 16.4% year on year, outpacing the national growth rate by 6.5 percentage points. Eight globally renowned pharmaceutical companies such as Lilly and Pfizer established R&D and innovation centers in Beijing last year.
The China (Beijing) FTZ attracted 39.9% of the city’s total utilized foreign investment in 2024, marking an increase of 20.6 percentage points from the previous year.
As part of its efforts to promote opening up, the FTZ established the nation’s first specialized area within the Tianzhu Comprehensive Bonded Zone for importing rare disease drugs unavailable in domestic markets.
Since April 11, 2024, more than 1,400 doses of medication for children with achondroplasia have been imported through the Tianzhu Comprehensive Bonded Zone to Beijing Children Hospital of Capital Medical University, said an official from the zone.
Tianzhu Comprehensive Bonded Zone ranked second in the country, according to assessment of the General Administration of Customs in 2023.
Additionally, Beijing explored pilot projects in sectors such as value-added telecommunications businesses and pharmaceuticals. The city also released the nation’s first negative list to facilitate the export of key industry data.
This year, Beijing will draft the third version of its work plan for the service sector demonstration zone, aiming to promote a higher level of openness.