BEIJING, July 21, 2021 / PRNewswire / – This is a report from China.org.cn:
More than 60 financial institutions with foreign capital have set up in Beijing, recently revealed Huo Xuewen, head of the Beijing Municipal Financial Work Bureau.
Huo said that Beijing, as one of the from China national financial management centers, has more than 170 trillion yuan in financial assets, more than half of the country’s total. There are over 900 licensed financial institutions in Beijing, number one in the country. Venture capital and equity investment in Beijing are also very active, and financial institutions have unique advantages in terms of infrastructure, market foundation and resources for development.
Regarding the business environment, that of Beijing The monetary and credit business environment ranks first in the country according to an assessment by the National Development and Reform Commission this year. The Beijing Municipal Bureau of Financial Work has established a mechanism to provide financial institutions with various services at municipal and district levels. Services include household registration, medical care and education, among others.
Beijing stepped up its pace of financial reform and openness as part of the construction of its pilot free trade area and the integrated national demonstration area for expanding the opening up of the service sector. As such, it has put in place a total of 102 policies, including further easing of market access, further expansion of the capital market and wider access to capital accounts, increased support for financial institutions with foreign capital for obtaining business qualifications and strengthening the dominance of FinTech in the capital. A total of 72 policies out of the 102 have been implemented to date, representing an implementation rate of 70.6%.
More than 60 financial institutions with foreign capital are setting up in Beijing