In the past five years, Beijing's strategic initiative—the National Services Trade Innovation Demonstration Zone combined with the Beijing Free Trade Zone, collectively known as the “Two Zones”—has catalyzed transformative growth in China's capital. Anchored by institutional openness and policy breakthroughs, the initiative has delivered over 70 pioneering national policies, replicated more than 80 innovation achievements nationwide, and expanded over 120 innovative practices citywide. This concerted effort has solidified Beijing's position as a premier global financial hub and a gateway for international trade and investment.

Financial Sector: Beijing's Driving Force of Innovation and Openness

Financial reform and openness stand at the heart of Beijing's “Two Zones,” accounting for nearly 40% of the pilot reforms. The city's financial landscape has been dramatically reshaped with landmark institutional milestones, including the inauguration of the Beijing Financial Court and the launch of the Beijing Stock Exchange (BSE).

According to Pan Li, Deputy Director of Beijing's Municipal Financial Office, Beijing leads China in critical financial metrics such as the number of legal financial institutions, workforce size, total financial assets, insurance penetration, and insurance depth. In 2024, the city's financial sector achieved a remarkable RMB 815.42 billion in value added—a 7.6% year-on-year increase that outpaces the national average by two percentage points and represents the highest growth in five years. The first quarter of 2025 saw financial services grow by 8%, contributing 17.9% of Beijing's GDP and adding 1.4 percentage points to overall economic growth.

The Beijing Stock Exchange, now home to 267 listed companies, has become a vibrant incubator for innovation-driven small and medium enterprises, with nearly half recognized as national “Little Giants”—highly specialized and innovative firms. This positioning underscores Beijing's strategic commitment to nurturing a financial ecosystem that powers China's innovation economy.

A total of approximately 200 domestic and foreign financial institutions have established operations in Beijing, including the nation's first wholly foreign-owned currency brokerage, futures company, and securities firm. The city also pioneered policies such as the integrated foreign and domestic currency fund pools and unified foreign-exchange account management, which have become national benchmarks for cross-border liquidity optimization and fund management.

Zhou Junming, Deputy Director of the State Administration of Foreign Exchange's Beijing branch, highlights the impressive growth in cross-border financial activities: from 2020 to 2024, the city's foreign-related receipts and payments surged by 67.4% to reach USD 2.4 trillion, accounting for nearly 17% of China's total. Cross-border RMB transactions have become increasingly prominent, with their share rising from 49.7% to 65%, reflecting deepening RMB internationalization and Beijing's expanding role in global finance.

Institutional Openness Fuels Innovation and International Collaboration

Beijing's institutional reforms have paved the way for groundbreaking innovation policies and enhanced global collaboration. The city's pioneering tax incentives on technology transfers and “instant approval” processes for high-tech enterprises have reduced bureaucratic barriers and accelerated commercialization.

The capital leads China in recognizing international professional qualifications, facilitating seamless talent mobility and enhancing its attractiveness to global enterprises. Beijing also set national firsts in real estate and equity trust property registration frameworks, offering transparent and efficient mechanisms that underpin investment security.

The “Belt and Road” initiative finds a practical channel in Beijing's comprehensive service platform, which supports both inbound foreign direct investment and outbound Chinese enterprise expansion, creating a virtuous cycle of economic integration.

Trade Facilitation: Enhancing Supply Chain Efficiency and Consumer Access

Beijing Customs has leveraged the city's dual-airport hubs to optimize agricultural product imports and cargo logistics, significantly accelerating goods clearance. This efficiency is exemplified by Ecuadorian roses reaching local consumers within three days, Russian snow crabs cleared in 20 hours from Moscow, and Malaysian durians arriving in Beijing supermarkets within 48 hours of harvest.

The capital's foreign trade volume surged from RMB 23.2 trillion in 2020 to RMB 36.1 trillion in 2024. Customs reported a 35.1% increase in goods traffic and a 99.3% rise in passenger flows year-on-year, demonstrating the rapid expansion of Beijing's international gateway functions.

Beijing's comprehensive bonded zones have quadrupled in number, with the Tianzhu Airport bonded zone rising from 49th nationally in 2020 to second in 2024, showcasing innovative regulatory models that serve as national exemplars. The growth in inbound tourism and outbound shopping has also fueled tax rebate volumes, which reached RMB 4.7 billion in refunds to 9 million travelers within the first five months of 2025—a 91.6% increase year-over-year—indicating strong consumer confidence and spending potential.