The Office of the Financial Affairs Committee of the Communist Party of China (CPC) Beijing Municipal Committee (the Office) released outstanding cases of "Beijing Service" in the financial sector on Sept. 12 during the 2025 China International Fair for Trade in Services (CIFTIS).

A release event is held during the 2025 China International Fair for Trade in Services (CIFTIS) to publicize excellent cases of "Beijing Service" in the financial sector in Beijing, Sept. 12, 2025. [Photo/China.org.cn]

The event saw more than 150 guests participating, featuring representatives from municipal authorities, central financial regulatory bodies and their Beijing-based offices, the Beijing Financial Court, major Chinese and foreign financial institutions, industry associations and premier professional service organizations.

To spotlight Beijing's achievements in financial reform, innovation and its steadfast commitment to opening up the financial sector, the Office leveraged the platform of CIFTIS to publicly present exemplary "Beijing Service" cases in finance for the first time. This significant initiative not only commemorated past accomplishments but also ushered in a new chapter for future progress.

The briefings highlighted that, in recent years, under the support and guidance of central financial regulators, Beijing has continuously enhanced its financial business environment, striving to establish the "Beijing Service" brand as a global leader for facilitating the development of the financial sector.

Notable accomplishments include implementing pilot policies such as the sci-tech financial reform experimental zone in the Zhongguancun National Innovation Demonstration Zone; becoming the first city to support "tap-and-go" fare payments for overseas bank cards in metro systems; pioneering the integration of payment and communication technologies; establishing the nation's first commercial aerospace insurance consortium; and leading the way in adopting policies from China's expanded pilot program for financial asset investment companies (AICs).

At the same time, Beijing has seized the major opportunities presented by the "Two Zones" initiative — the Integrated National Demonstration Zone for Opening Up the Services Sector and the China (Beijing) Pilot Free Trade Zone — yielding a large number of representative and pioneering financial achievements.

Over 50 breakthrough policies were introduced, including pilot programs that integrate domestic and foreign currency capital pools of multinational companies and allow for unified domestic-foreign currency bank account settlements. 

Nearly 200 Chinese and foreign financial institutions have established and expanded operations in the city. Between October 2024 and September 2025, Prudential Financial was granted approval to set up an insurance asset management firm in Beijing, and BNP Paribas was approved for setting up a property insurance company.

The Office, in partnership with Beijing-based offices of central financial regulators, selected outstanding cases from over 200 submissions. These cases were presented through a dedicated video and publication, encapsulating efforts in national strategy implementation, urban development support, and progress in finance. Additionally, the cases address cross-border finance, payment convenience and financial judicial synergy.

The selected cases have unique features, and many are the first of their kind in China, showing Beijing's leadership. These examples have proven successful, bringing real economic and social benefits. They can be copied and used elsewhere, offering valuable experience for financial reform and development.

Officials of the Office emphasized that 2025 marks a pivotal year for preparing the 15th Five-Year Plan and a critical time for further comprehensive reforms and advancing Chinese-style modernization. Their goal is to build a higher-standard "Beijing Service" brand, create a world-class financial business environment, and contribute to high-quality growth in the financial industry.