Data recently released by the Ministry of Commerce shows that in the first two months of this year, 7,160 new foreign-invested enterprises were established across the country, a year-on-year increase of 34.9%, the highest level in the past five years, showing that multinational companies are optimistic about the development opportunities in my country's market and continue to invest in China.
According to statistics from the National Immigration Administration, during this year’s Qingming Festival holiday, border inspection agencies across the country protected a total of 5.189 million Chinese and foreign personnel entering and leaving the country, with an average of 1.73 million passengers per day, an increase of 69.6% over the same period last year. Among them, there were 2.267 million entries and exits by Hong Kong, Macao and Taiwan residents, an increase of 35.9% over the same period last year; 2.422 million entries and exits by mainland residents, an increase of 101.7% over the same period last year; 0.5 million entries and exits by foreigners, an increase of 163.2% over the same period last year.
These figures illustrate that my country's high-level opening up continues to "accelerate."
What new policies and measures have recently helped my country accelerate its high-level opening up? How to continuously expand the open field of science and technology finance?
Inbound tourism:
Wusongkou International Cruise Port
Welcome large-scale inbound tourist groups
With the introduction of favorable policies such as mutual visa exemption, customs clearance convenience and route resumption, my country's inbound tourism will accelerate its recovery in 2024. Shanghai welcomed a large-scale inbound cruise tour group on April 6.
On the morning of April 6, the "Mehiv 5" cruise ship carrying more than 2,500 people arrived at Shanghai Wusongkou International Cruise Port. After disembarking from the cruise ship, tourists begin a two-day inbound city sightseeing experience. According to reports, nearly 90% of the tourists in this tour group are from Germany, and some tourists are from Austria, Switzerland and other countries. They all enjoyed the unilateral visa-free policy and entered the country smoothly. In the arrival hall, relevant banking and financial units also set up special booths to educate inbound tourists about payment conditions in China.
German tourist Brigitte Krueger:
We are from Germany and this is our first time in Shanghai. We are deeply impressed by the foreign culture here. Very beautiful and very surprising.
This year, the number of foreign tourists visiting Shanghai has grown steadily, and the recovery of the cruise industry is particularly worthy of attention. According to the Shanghai Municipal Culture and Tourism Bureau, Shanghai received a total of 10 cruise ships and more than 22,000 tourists in the first quarter of this year. It is expected to receive 18 cruise ships and more than 40,000 tourists throughout the year.
Payment services:
Improve payment convenience and solve difficulties
After foreigners enter the country, how to provide them with more convenient services? A month ago, the General Office of the State Council issued the "Opinions on Further Optimizing Payment Services and Improving Payment Convenience" to solve the problem of payment difficulties for inbound tourists. The "Opinions" put forward many specific measures, and the general principle is
"swipe cards for large amounts, scan QR codes for small amounts, and pay in cash
. "
Let’s take a look at the current implementation effect↓↓↓
Beijing: Improve payment convenience through multiple departments and multiple locations
In a small cultural and creative store on Qianmen Street in Beijing, signage for scan-code payment and credit card payment are placed side by side on the counter. The store owner told reporters that their credit card machine had just been upgraded.
Wang Jing, owner of a cultural and creative store in Dongcheng District, Beijing:
It turns out that we can mainly use two types of cards, Visa and MasterCard. Now there are 5 card types, including JCB (Japanese credit card) and American Express, all of which can be used for payment by card.
Wang Jing told reporters that most foreign tourists are accustomed to paying with cash and credit cards, but recently, as the procedures for binding foreign cards to domestic payment software have been simplified, more and more foreign tourists have begun to use mobile payments. Just when the reporter was interviewing, Yisaya used the scan code to pay to buy the embroidery of his choice.
Foreign student Yisaya:
Recently I found that it is more convenient to scan the QR code to pay because I can use our country’s bank card. It's easy to bind the payment software, it only takes three steps, it's really fast.
Yisaya told reporters that the multi-language translation function recently launched on the payment platform has also made his consumption in Beijing more convenient.
Shenzhen: Create a global payment demonstration zone
At the Shenzhen Airport, at the information desk opposite the international arrivals gate, a new staff member from a bank has been added. He is dedicated to solving financial service problems for foreigners coming to Shenzhen for the first time.
ICBC staff:
If you have a bank card, you can go to the automatic teller machine over there to withdraw RMB cash; if you carry foreign currency cash, there is a currency exchange point here.
Whether currency exchange or cash withdrawal, it can all be done in this arrivals hall. According to reports, the Shenzhen Airport business district has now achieved full coverage of foreign card acceptance, mobile payment, cash payment, digital renminbi and other payment methods. Among them, the wild card acceptance coverage rate has exceeded 90%.
Tom, a foreigner in China:
I can do anything like other people, such as ordering food, taking a taxi, paying for meals, etc. It is really convenient and fast.
Xie Di, a foreigner in China:
It is indeed much more convenient than before. Not only can I pay with an international card, but I can also withdraw cash from ATMs.
How to solve the difficulty of getting change when paying cash with a foreign card?
Previously, Zhang Qingsong, deputy governor of the People's Bank of China, pointed out that foreigners in China have several difficulties in making payments domestically, including high rates for foreign cards and merchants not having enough change. So, how to solve these difficulties?
In Huaqiangbei, Shenzhen, the reporter came to an electronics market with Kamil from Poland. Faced with the wild card that Camille took out, most merchants said they couldn't use it.
After asking eight or nine merchants, the reporter and Camille finally found a merchant that could accept wild cards.
Is it that the payment environment here is still not good and has not improved?
Regarding this question, bank staff told reporters that these merchants are all small and micro merchants, and they are upgrading merchants with POS machines so that they can accept foreign cards. For merchants who are unwilling to swipe their cards, they use cash to exchange money for them at their doorstep.
Chen Nina, General Manager of Operations and Channel Management Department of Bank of Communications Shenzhen Branch:
We have recently increased our efforts in the exchange of coin purses and the exchange of change. We are all equipped with wallets with 100 yuan, 200 yuan and 500 yuan as standard, and the door-to-door exchange efficiency is very high.
Sun Rongjian, Director of the Currency Issuance Department of the Shenzhen Branch of the People's Bank of China:
Currently, there are 1,640 bank outlets in Shenzhen, covering 31 foreign currency exchange points at ports and transportation hubs, all of which can provide coin purse exchange services.
The reporter learned that the handling fee for foreign cards is generally about 3%, and that for domestic bank cards is generally about 0.6%. This part of the fee is borne by the card merchants, so many merchants are unwilling to accept foreign cards. To address this difficulty, payment platforms have recently launched a simple card binding program to make it easier to scan QR codes to make purchases after binding foreign cards. The payment platform also promises that for international card transactions with a single transaction amount of 200 yuan or less, the payment platform will bear the user's international card transaction fees and waive the merchant's transaction fees.
The financial sector:
Introducing measures to open up and expand
On March 19, the General Office of the State Council issued the "Action Plan for Solidly Promoting High-level Opening to the Outside World and Making Greater Efforts to Attract and Utilize Foreign Investment." This "Action Plan" proposes a series of measures for banks, insurance, bond markets, private equity funds, etc.
At a press conference held by the State Council Information Office on January 25 this year, the State Financial Supervision and Administration Bureau revealed that it has completely lifted restrictions on foreign shareholding ratios in the banking and insurance sectors. Less than two months later, the Action Plan further expanded the access of foreign financial institutions in the banking and insurance fields. For example, Article 4 of the 24 articles in the Action Plan mentions
supporting qualified foreign financial institutions in participating in domestic bond underwriting in accordance with regulations.
According to industry insiders, supporting foreign investment in this core business will give foreign-funded institutions greater business space. At the press conference on "Promoting High-level Opening to the Outside World and Making Greater Efforts to Attract and Utilize Foreign Investment", a reporter also further asked, what other measures will be taken to open up China's bond market and financial derivatives?
Zhou Yu, head of the International Department of the People's Bank of China:
For example, in January this year, we worked with the Hong Kong Monetary Authority to include bonds under the "Bond Connect" mechanism into the scope of eligible collateral for the Hong Kong Monetary Authority's RMB liquidity arrangement, and at the same time opened up foreign investors to participate Domestic bond repurchase business. Prior to this, only overseas central banks, overseas sovereign institutions, and overseas RMB business clearing banks and other institutions could participate in bond repurchases.
In addition, taking insurance as an example, according to Article 3 of the plan,
it is necessary to deepen the opening of commercial pension insurance, health insurance and other industries, and support qualified overseas professional insurance institutions to invest in, establish or participate in insurance institutions in China.
In fact, in the Shanghai Free Trade Zone, there have been pilot projects related to the opening up of the insurance industry. The first foreign-funded reinsurance legal person institution, the first wholly foreign-owned insurance holding company, the first foreign-funded insurance brokerage institution approved to expand its business scope, etc., have been born here.
Technology fields:
China’s Sky Eye is open to scientists from around the world
Annual Free Observation Project Application
China Sky Eye FAST, also known as the 500-meter aperture spherical radio telescope, is an important large-scale scientific installation in our country. The application channel for the 2024 free observation project has been opened to the world at 0:00 on the 6th and will close at 24:00 on May 15. Relevant applications can be submitted through the official website of China Sky Eye.
Currently, FAST is conducting observation missions for scientific targets such as pulsar search, pulsar timing, neutral hydrogen survey, and fast radio bursts. With its ultra-high sensitivity, as of the beginning of this year, the cumulative number of pulsars monitored by China's Sky Eye FAST has exceeded 890, which is more than three times the total number of similar foreign telescopes monitored during the same period. (CCTV News Client)