China’s central government will support Beijing in setting up a pilot free trade zone characterizing scientific and technological innovation, opening up of the services sector and the digital economy.
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The decision was announced at the opening of the 2020 China International Fair for Trade in Services (CIFTIS) in Beijing on Friday.
“We will support the municipality in developing a national integrated demonstration zone for greater openness in the services sector. It will enable Beijing to take bigger, bolder steps as a trailblazer and gain more experience that would be replicable and scalable,” Chinese President Xi Jinping said while addressing the CIFTIS Global Trade in Services Summit via video.
The new zone will serve as a platform of high-standard opening-up for the coordinated development of the Beijing-Tianjin-Hebei region, and open up new horizons for reform and opening-up at a higher