Core Insights - Beijing's "Two Zones" initiative emphasizes the financial sector, with nearly 40% of pilot measures focused on financial openness [1][2] - The establishment of the Beijing Financial Court and the operational launch of the Beijing Stock Exchange are significant milestones, with nearly 200 domestic and foreign financial institutions now operating in the city [1] Financial Performance - In 2024, Beijing's financial industry is projected to achieve an added value of 815.42 billion yuan, reflecting a year-on-year growth of 7.6%, surpassing the national average by 2 percentage points [1] - The financial sector's growth in the first quarter of this year was 8%, contributing 1.4 percentage points to the city's overall economic growth, with the financial industry's share of GDP reaching 17.9% [1] Institutional Developments - Since the launch of the "Two Zones" initiative, nearly 200 domestic and foreign financial institutions have established operations in Beijing, including the first wholly foreign-owned currency brokerage and futures company in the country [2] - Policies such as the integrated currency pool for multinational companies and the unified foreign and domestic currency accounts have been piloted in Beijing, benefiting 107 multinational corporate groups [2] Cross-Border Financial Services - The scale of foreign-related income and expenditure in Beijing has grown steadily, with a 67.4% increase compared to 2020, reaching 2.4 trillion USD, which accounts for 16.9% of the national total [2] - The average annual growth rate of foreign-related income and expenditure is 13.8%, with cross-border RMB income and expenditure steadily increasing, rising from 49.7% in 2020 to 65% in 2024 [2]

Group 1 - The Beijing government has showcased significant achievements in the "Two Zones" initiative over the past five years, with a total of 35,000 projects entered into the investment database and 23,000 projects implemented, amounting to 4.5 trillion yuan [1] - Foreign investment projects have exceeded 2,600, involving 70 billion USD, contributing to 12.5% of the city's fixed asset investment and 63.8% of actual foreign investment utilization in 2024 [1] - Nearly 700 domestic projects with an investment of over 1 billion yuan have been implemented, totaling over 3 trillion yuan, alongside around 250 foreign projects with investments exceeding 50 million USD, amounting to over 63 billion USD [1] Group 2 - The city has conducted nearly 800 promotional activities for investment, establishing a multi-layered investment promotion platform that includes major economic and trade events [2] - Beijing has set up a global investment promotion network with five overseas service stations and has joined the World Association of Investment Promotion Agencies, establishing 25 global partners [2] - The investment promotion center has implemented mechanisms like "service steward" and "service package" to enhance service quality for enterprises, addressing over 720,000 enterprise requests through the 12345 service hotline [2]

Core Insights - Beijing's "Two Zones" initiative has achieved significant milestones in its five-year development, focusing on expanding the service industry and financial sector [1][3] Group 1: Achievements of the "Two Zones" Initiative - Over the past five years, Beijing has implemented more than 70 national breakthrough policies and promoted over 80 innovative achievements nationwide [1] - The financial sector has been a key focus, with nearly 40% of the open pilot measures related to finance, leading to a projected financial industry value added of 8,154.2 billion yuan in 2024, a 7.6% increase year-on-year [1][3] - The financial industry's growth is expected to contribute 1.4 percentage points to the overall economic growth of the city [1] Group 2: Cross-Border Financial Services - The initiative has fostered innovation in cross-border financial services, including the launch of pioneering cross-border financial products and services [3] - Beijing has initiated the QDLP pilot program and optimized the QFLP pilot, enhancing the framework for cross-border capital pools that benefit 107 multinational corporations [3][5] - The scale of foreign-related income and expenditure in Beijing has increased by 67.4% compared to 2020, reaching 2.4 trillion USD, accounting for 16.9% of the national total [5] Group 3: Payment Services and Trade Facilitation - Beijing has expanded payment services, becoming a leader in cross-border e-commerce foreign exchange payment, serving nearly 400,000 cross-border e-commerce enterprises [5] - The city has introduced innovative payment solutions, including the first "foreign card online payment" service in the country, facilitating over 110,000 transactions in one year [5] - The People's Bank of China in Beijing has completed all 51 tasks related to the "Two Zones" initiative and aims to further enhance financial service quality and efficiency [6]