BEIJING AS SPEARHEAD

陈小将

Amid Xi's proposals, Beijing was tasked with pioneering the opening-up path and driving the innovative development of services trade with institutional reforms.
Last year, Xi declared that a stock exchange would be set up in Beijing to serve innovation-oriented small and medium-sized firms.
Although only established in November 2021, the Beijing Stock Exchange has become an accelerator turbo-charging the growth of innovation-oriented small and medium-sized firms.
A total of 105 companies have been listed on the Beijing bourse, with small and medium-sized firms accounting for 77 percent. Companies in strategic emerging and advanced manufacturing industries make up over 80 percent of the total.
The bourse has raised an accumulated 22.7 billion yuan ($3.3 billion) through initial public offerings, which averages 210 million yuan for each firm.
The capital city also received approval from the State Council during the 2020 CIFTIS to expand opening-up in the services industry and build a national comprehensive demonstration zone.
About 70 pioneering policies were rolled out in two years in efforts to align with international trade rules and more than 80 signature projects were launched.
The commerce ministry said China will boost the digitalization level of traditional services trade sectors, while encouraging the imports of carbon reduction technologies and services to sharpen the competitive edge of Chinese services.
Themed "cooperate for better development, innovate for a greener future", the 2022 CIFTIS features greater internationalization with some 400 Global Fortune 500 companies and industry-leading enterprises participating, representing a larger share than its last edition. It will run through Sept 5.