Metropolis leads growth of nation's foreign trade

Beijing made substantial contribution to the growth of national foreign trade in the first quarter of this year, data from the city customs bureau showed.

During the period, imports to and exports from the Chinese capital reached 899.24 billion yuan ($129.9 billion), an increase of 11.6 percent year-on-year.

Beijing Customs said it has implemented 17 measures to promote the high-quality development of the Belt and Road Initiative. It also helped build the city's first innovation service center, which serves the BRI and the Regional Comprehensive Economic Partnership, to assist investment and market exploration of Chinese companies in related countries and regions.

In the first quarter, Beijing's trade with BRI-involved countries and regions exceeded 448 billion yuan, accounting for 49.9 percent of its total.

Beijing's customs officials have also worked closely with their counterparts in Tianjin and Shijiazhuang, capital of Hebei province, to exchange and share information, collaborate and realize mutual assistance in law enforcement.

The officials have set up a quick and convenient customs clearance mechanism for 257 key enterprises in the Beijing-Tianjin-Hebei region.

In the first quarter, total goods imports and exports in the Beijing-Tianjin-Hebei region grew by 9.3 percent year-on-year to 1.23 trillion yuan, 4.5 percentage points higher than the national growth rate in the sector.

In addition to foreign trade, the capital witnessed robust growth in the financial industry. In the first quarter, the incremental value of the industry reached 207.02 billion yuan, up 6.1 percent year-on-year. Its contribution to the city's GDP reached a record high of 20.8 percent, becoming an important force for the city's high-quality development, according to the Beijing Bureau of Local Financial Regulation and Supervision.

Financial institutions in Beijing have maintained smooth operations. By the end of March, Beijing Stock Exchange had more than 180 listed companies. Over 80 percent of them are small and medium-sized enterprises, as well as companies involved in advanced manufacturing, modern services and strategic emerging industries.

In 2024, Beijing will host the SIBOS — or SWIFT International Banking Operation Seminar — financial services forum, which is a milestone in the opening-up of China's financial sector, said Zhao Weijiu, deputy director of the financial regulation and supervision bureau.

To promote the sustainable and healthy development of the capital's financial industry, Zhao said the bureau has been improving the opening-up level of the industry based on the construction of "two zones" and carried out three main tasks of serving the real economy, preventing and controlling financial risks, and deepening financial reform.

Beijing has been developing a national integrated demonstration zone for greater openness in the services sector. It is also setting up a pilot free trade zone for scientific and technological innovation, opening-up the services sector and the digital economy.

Investment promotion of the two zones exceeded expectations in the first quarter. Statistics from Beijing Investment Promotion Service Center showed that from January to March, the city added more than 3,000 new projects, with total investment exceeding 360 billion yuan.

haonan@chinadaily.com.cn