At the recently-held Beijing Cutting-edge Industry Investment Promotion Conference, Beijing launched nine major policies to promote investment in high-tech industries.

In terms of manufacturing, the restriction on the foreign shareholding ratio in passenger car manufacturing and the restriction that the same foreign company can establish only up to two joint ventures in the country to produce similar vehicle products will be lifted in 2022.

Speaking of finances and taxes, imported equipment of encouraged foreign investment is exempted from tariffs; in the financial sector, a domestic listing service platform for foreign-invested enterprises is now established. In terms of land, the supply of land through the industrial chain will be explored and promoted.

Meanwhile, in the fields of finance, architectural design and planning the access restrictions for qualified professionals with overseas professional qualifications are further relaxed.

Besides, convenience will be provided for overseas high-end talents to enter and exit the country, and foreign exchange purchases and remittances related to life such as support funds, children's tuition fees, and so on will be facilitated. 

For medical expenses incurred by foreign talents, a pilot program of real-time settlement between hospitals in the region and international insurance will be carried out.

The "approval upon filing" policy is applied to high-tech enterprises that have already landed. In addition, multinational companies are encouraged to set up R&D centers.

In addition, the policies include the construction of a digital copyright trading platform, the establishment of the Pilot Free Trade Zone as a new platform for Beijing-Tianjin-Hebei industrial cooperation, and the supervision of new technologies and products.