China Presents Three-Year Business Environment Plan for Beijing-Tianjin-Hebei Region
- Date: 23 August 2024
- Tags: China, Economic Development Plan, Beijing, Tianjin, Hebei
- Reading time: 5 minutes
To support the coordinated development of Beijing-Tianjin-Hebei (BTH) and the national strategy to enhance the region’s business environment, a comprehensive three-year action plan has been launched. This initiative seeks to dismantle institutional barriers hindering high-quality development and aims to foster a top-tier, market-driven, law-based, and international business environment.
Key Objectives and General Framework
The action plan displays a firm commitment to improving the sense of gain for enterprises. By streamlining policies and regulations across Beijing, Tianjin, and Hebei, the plan aims to foster cross-regional cooperation, reduce institutional transaction costs, and enhance the free flow of resources. By 2027, the BTH region is expected to see significant improvements in business efficiency, marked reductions in transaction costs, and increased attractiveness for both domestic and foreign investments.
Market Environment: Unified and Efficient
The first objective is to create a unified market environment by eliminating local protectionism and market segmentation across Beijing, Tianjin, and Hebei.
- Harmonized Registration Processes: A key aspect is the unification of enterprise registration rules, making it easier for businesses to establish, alter, or relocate within the region. This streamlining will eliminate unnecessary conditions imposed on cross-regional enterprises.
- Fair Competition: The BTH region will establish a regional mechanism for fair competition review, fostering transparency and preventing monopolistic practices. Cross-regional training and collaboration in areas like anti-monopoly and anti-unfair competition will ensure a level playing field for all businesses.
- Cross-Regional Innovation: The plan calls for increased collaboration between scientific research institutions and enterprises, promoting the development of industry-university-research consortiums. This will drive the transformation of patents and foster the creation of world-class advanced manufacturing clusters, particularly in key areas like integrated circuits and cybersecurity.
Rule of Law: Protecting Business Rights
To protect the legitimate rights of businesses, the action plan emphasizes legal coordination and the establishment of robust regulatory frameworks.
- Cross-Regional Legal Services: The BTH region will develop a coordinated mechanism for handling complaints and protecting business rights. This includes an enhanced intellectual property enforcement system and a unified approach to resolving overseas intellectual property disputes.
- Unified Regulatory Standards: By aligning regulatory policies across the region, the action plan seeks to simplify compliance for businesses. Joint regulatory enforcement and a unified credit regulation system will further support the region’s business environment.
- Judicial Coordination: The plan enhances cross-regional judicial cooperation, optimizing case filing services and facilitating legal processes related to property investigations and enforcement.
Internationalization: An Open and Inclusive Trade Environment
A core goal of the action plan is to enhance the region’s international attractiveness through improved trade and investment facilitation.
- High-Level Regional Coordination: By aligning with international standards in areas like digital trade and financial services, the BTH region aims to become a hub for cross-border business operations. This includes supporting cross-border asset management and increasing capital account facilitation in pilot free trade zones.
- Foreign Investment: The BTH region will fully implement a negative list management system for foreign investment, ensuring equal market access for foreign enterprises. The plan also streamlines administrative approvals for foreign-funded enterprises, providing better support for their operations and complaints.
Optimized Government Services
Efficient and responsive government services are a cornerstone of the plan, ensuring that businesses can operate seamlessly across the region.
- Cross-Regional Government Services: The action plan promotes “same standard” government services across the region, allowing businesses to manage cross-regional affairs without bureaucratic roadblocks. This includes the mutual recognition of qualifications and licenses, facilitating smoother business operations.
- Digital Integration: By integrating online and offline service channels, businesses will enjoy a one-stop platform for accessing government services. The region aims to provide fully digital, end-to-end services for applications, approvals, and certifications.
Coordinated Development of Public Services
Beyond business operations, the action plan focuses on the joint construction and sharing of public services, enhancing the overall quality of life and work in the region.
- Education and Healthcare: The coordinated development of educational and medical resources is central to the plan. Cross-regional cooperation between top schools and medical institutions will improve access to high-quality services for residents and businesses alike.
- Human Resources: By aligning employment and entrepreneurship policies, the region will foster a thriving job market. Professional qualifications will be mutually recognized across the three areas, ensuring the free flow of talent.
Xiong’an New Area: A Model for Innovation
As a key development zone, Xiong’an New Area will serve as a testbed for innovative business and land-use policies.
- Innovative Land Use: Xiong’an will offer flexible land-use policies to attract industrial projects, promoting long-term leases and flexible transfers to boost investment.
- Financial and Technological Innovation: Xiong’an will pilot a range of financial innovations, including cross-border RMB loans and green finance initiatives. Additionally, the area will establish itself as a hub for technology and entrepreneurship, particularly in the aerospace and satellite Internet industries.
Conclusion
The Beijing-Tianjin-Hebei three-year action plan is a bold, forward-thinking strategy aimed at transforming the region into a global leader in business environment optimization. By reducing institutional barriers, fostering innovation, and improving legal and regulatory frameworks, the BTH region is poised to become a model for regional coordinated development. The focus on internationalization, public services, and high-tech innovation will ensure that the region remains competitive in the global economy, attracting top-tier investments and fostering sustainable growth.