China Reveals 3-Year Business Plan for Beijing-Tianjin-Hebei Region

27 Aug, 2024

China Reveals 3-Year Business Plan for Beijing-Tianjin-Hebei Region

China’s new Three-Year Action Plan for the Beijing-Tianjin-Hebei region, introduced by the National Development and Reform Commission, aims to standardize business regulations, enhance regional integration, and promote innovation in key industries. By addressing challenges such as local protectionism and regulatory inconsistencies, the plan outlines 19 measures across six focus areas to streamline business operations and foster a unified economic environment.

The plan prioritizes standardizing business registration, improving legal protections, and boosting international trade and investment. It also focuses on optimizing government services, enhancing public service collaboration, and promoting innovation in the Xiong’an New Area through financial openness and a business-friendly environment.

Complementary measures include the development of world-class industrial clusters and the integration of financial support for innovation across the region. These initiatives aim to eliminate barriers, attract investment, and create a more cohesive economic ecosystem. The plan is expected to enhance the region’s global competitiveness by fostering technological progress and ensuring long-term economic resilience.