Home / News
Service and business administration and supervision measures for online companies have also been put in place.
Among the new incentives to drive the innovation sector also include the founding of 70 laboratories and seven new loan agencies for the high-tech sector.
Yan said more measures are in the pipeline for the second half of 2016.
The city’s commerce authorities are also addressing challenges from both the cross-border e-commerce sector, which drives consumers online to shop for leading branded products, and Chinese tourists’ overseas spending sprees on luxury items.
The official indicated that Beijing will open 10 online-to-offline companies in downtown areas to sell leading foreign brand products at cheaper prices. The companies source and buy products through their online operations and then sell them in their bricks-and-mortar stores.
It is expected that the shops will benefit from preferential tax policies.
yangcheng@chinadaily.com.cn
