In the financial sector, pilot tasks include supporting the development of international factoring services and attracting overseas insurance companies, sovereign funds, pension funds, certification and verification agencies, and environmental, social and governance (ESG) funds to provide financing, investment and technical services for green projects.

　　In the commerce, trade and cultural tourism sectors, foreign-invested travel agencies will be allowed to offer outbound tourism services, while the transportation sector will explore new multimodal transport models to support the export of new energy vehicles and power batteries, Ling said.

　　Since 2015, China has approved 11 provinces and cities, including Beijing and Hainan, to carry out pilot programs, continuously expanding institutional opening-up with regard to rules, regulations, management and standards. This is fostering a world-class business environment that is market-oriented, law-based and internationalized, and is providing foreign-invested enterprises in China with diverse application scenarios and a stable, open policy environment for investment and operations.

　　The newly released plan says that nine additional cities, including Ningbo and Xiamen, will be permitted to carry out comprehensive pilot programs.

　　Bai Ming, a researcher at the Chinese Academy of International Trade and Economic Cooperation, noted that the nine cities boast relatively high levels of openness in the services sector, as well as unique industrial characteristics, with some specializing in lifestyle services and others focusing on productive services, which will facilitate differentiated exploration.