Daxing FTZ to assist businesses with ODI registration
Daxing district of Beijing is ramping up policy support, including optimizing registration procedures in overseas direct investment (ODI), to help firms that have ambitions to go global. The measures are expected to bolster the building of "two zones" - the Beijing Free Trade Zone and a national integrated demonstration zone - to open the services sector wider.
An interior view of the Beijing Aceso Biosciences Limited Co [Photo provided by Daxing district]
With the assistance of local commerce authority, Beijing Aceso Biosciences Limited Co has completed its ODI registration in Daxing branch of the Industrial and Commercial Bank of China, marking a substantial progress on its way to expand its global presence.
Headquartered in Beijing, the company is dedicated to biomedicine research and product manufacturing, including induced pluripotent stem cells derivatives and generic drugs. It has finished its angel round fundraising and spent￡800,000 UK pounds (US $990,000) to build a wholly-owned subsidiary in Cambridge.
Daxing plays a crucial role in better construction of the "two zones". In August 2019, China (Hebei) Pilot Free Trade Zone Daxing Airport Area was inaugurated, followed by the Beijing Daxing Free Trade Zone which was established in September 2020.
At present, the district enjoys cross-provincial free trade policies and multiple support for comprehensive bonded zone, Zhongguancun science and technology innovation and pilot digital trade zone.