Chongqing- According to a press conference held on July 29th, seven key fields have been identified for Chongqing Municipality in Southwest China to pioneer the opening-up of the service industry. In April this year, the State Council formally approved for Chongqing to launch a comprehensive pilot program to expand and open up the service industry. This means Chongqing has become the only city in China's central and western regions to launch such a project and is the first to be approved since Beijing in 2015.

The comprehensive pilot program requires full integration to serve a new era of western development, which incorporates joint construction of the Belt and Road, Chengdu-Chongqing economic circle, and the development of the Yangtze River Economic Belt and New International Land-Sea Trade Corridor.

Further relaxation of market access, reformed regulatory models, and an optimized market environment is set to be realized following three years of trials.

7 Key fields 86 tasks

Seven service industries to be highlighted are science and technology, commerce, education, health and medicine, finance, energy, and telecommunications. Government policies will offer sufficient financial backing in support of 86 pilot reform tasks, and the level of openness has been set high.

Deeper reform in the science and technology industry will allow Chongqing to lead in the ownership of achievements in the field, develop key infrastructure, and ease the financing of intellectual property.

Well-known foreign arbitration institutions will be introduced in addition to those operating in foreign credit investigation. Meanwhile, further strategies to attract professional talent will be explored.

Cooperation in Chinese foreign-run schools will be sought, while international science and engineering textbooks will be introduced to cultivate a more international talent base.

Support will be provided for financial regulatory mechanisms to promote market development, foreign financial institutions, green finance, and cross-border commercial medical insurance.

Breakthroughs in the health industry will be sought to introduce medical institutions, foreign pension institutions, online medical services, and drug distribution. Private energy enterprises will receive support in the fields of power distribution and sales, while innovative models for online bidding are to be explored.

The establishment of a website filing system meeting the needs of overseas customers will be supported to advance the telecommunications industry.

Industry platforms for high-quality development

A demonstration zone for the transfer and transformation of scientific and technological achievements will be constructed, with the Western (Chongqing) Science City and Liangjiang New Area in the leading position.

An inland international logistics hub with open ports and special customs supervision areas will be built. Support will be provided to construct an airport-type national logistics hub and collection platform for international industrial products.

A financial technology innovation demonstration zone based on central business districts will be constructed, and support given to this field in accordance with the law.

Integrated development of commerce, culture, and tourism will be promoted with the ‘One District Two Clusters’ at the core, which will support the construction of Chongqing as an international consumption center.

Optimized business environment

Chongqing will receive support to replicate Beijing's experience in reform and to implement investment projects for service industry enterprises that incorporate regional assessment, sample plots, commitment systems, and government support services.

Development of the digital content industry in Chongqing will be supported, and a review pilot for territorial online game content will be implemented.

A promotional system will be set up to lower the authentication threshold for high-tech enterprises, reduce the proportion of domestic R&D investment from 60% to 50%, streamline application processes, and implement a system for on-the-spot approval once an application is filed.

Focus on policy and guarantees

The facilitation of service trade investment will be further promoted, and support will be provided to developing a Single Window pilot scheme for international trade. Air-transit cargo transportation and the construction of a digital business environment will also receive support.

Guarantees for talented professionals will be strengthened, including the provision of green channel services for overseas talent, while foreign personnel will be permitted to serve as legal representatives of public institutions and state-owned enterprises.