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(2021) New Frontrunners in Opening-up

Establishing free trade zones is an important strategy of China's Central Committee and the State Council in advancing a new era of reform and opening-up. After a sixth expansion in September 2020, the number of pilot free trade zones in China has reached 21, enabling a comprehensive, multi-layered and diverse pattern of opening-up to boost the internal impetus of quality development. In this session, the panelists explored the new traits of the expanded free trade zones, the new missions of free trade zones under China's new "dual circulation" development pattern, and shared ideas on cracking the problem of homogenous development of free trade zones.

Yin Yong, vice mayor of Beijing, introduced the city's driving forces, methodology and achievements in building China's Comprehensive Demonstration Zone for Further Opening up the National Service Sector and the Pilot Free Trade Zone for Driving Technology Innovation, Service Industry Opening-up and the Digital Economy. Building these "Two Zones" in Beijing shows China's determination and strategy to push forward reform and opening-up. Beijing has outstanding advantages in the service industry, and can play a leading role in the industry through establishing pilot zones. Beijing's free trade zones have three main dimensions: technology innovation, the digital economy, and further opening up of the service industry, which can promote the nation-wide establishment of free trade zones.

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