Beijing Services Sector & Free Trade Zones

A recap on the January online seminar organized by Beijing Municipal Government

The President and Executive Officer of ACBC TAS, Erin Buttermore and Adrian Wood attended an online seminar organized by Beijing Municipal Government, supported by the Australian consulting company, Q Light Pty Ltd in January.

The event was arranged to provide Australian businesses with an update on the national-level zone for the services sector and a pilot free-trade zone that has been established in Beijing.

The Two Zones are the Integrated National Demonstration Zone for Opening Up the Services Sector and the Beijing Free Trade Zone. Beijing is the only metropolis in China to have the policy advantages of the Two Zones, which feature technological innovation, the opening of the services sector and the digital economy.

Around 20 Australian businesses and organizations participated in the event from a wide range of sectors, including biomedical/health and financial services. The speakers highlighted the benefits of the two zones offered to foreign companies establishing a business in Beijing.  The presentation also included a briefing by Yi Zhuang Bio-Medical Industry Park which hosts over 180 startup biomedical companies set up by international scientists and entrepreneurs.  Representatives of Jacobio Pharma one of the organisations based in the park, spoke about its experience and the support received from its startup. Four years later it was listed on the Hong Kong Stock Exchange.

The ACBC Tas representatives have reported that the event was interesting and enlightening. They believe ACBC members in other states could benefit from further information about the two zones, which offer favourable tax benefits and other incentives to foreign companies.

The event was simulcast from Beijing and Sydney. The Sydney host was Tony Zhang (currently in Australia) of Australia Q Light Pty Ltd based in Shanghai.  Australia Q Light supports Australian companies to do business in China.  Tony was the NSW Commissioner for Trade and Investment in Shanghai from 2009 -2019. He is currently the Deputy Chair of Austcham in Shanghai and has a strong business and government network in Beijing.