Cities wel­come for­eign funds

Shanghai Daily - - TOP NEWS - Xu Lingchao

THE G60 High-Tech Cor­ri­dor, the Songjiang-ini­ti­ated al­liance of nine ma­jor cities in the Yangtze River Delta, yes­ter­day re­leased a 30-point plan to boost busi­ness.

The new poli­cies, un­veiled at the CIIE, in­clude mea­sures to pro­mote for­eign in­vest­ment in the cor­ri­dor by eas­ing re­stric­tions.

The thresh­old for for­eign cap­i­tal to in­vest in the cor­ri­dor will be low­ered; re­stric­tions on the level of for­eign eq­uity in se­cu­ri­ties and fu­tures com­pa­nies will be eased so that more for­eign in­vest­ment can op­er­ate in­ter­me­di­ate busi­nesses with Chi­nese customers; and the val­ueadded tax will be re­duced for for­eign in­vest­ment in sci­ence tech­nol­ogy.

Formed by Songjiang in 2016, the G60 al­liance links key cities on the G60 ex­press­way: Songjiang, Hangzhou, Jin­hua, Huzhou, Ji­ax­ing, Suzhou, Xuancheng, Wuhu and He­fei.

The cities are also work­ing to­gether to im­prove traf­fic in­fra­struc­ture in the re­gion, in­clud­ing con­struc­tion of the Suzhou-Huzhou bul­let train and widen­ing ex­ist­ing ex­press­ways.

The al­liance will at­tend fu­ture CIIEs as a sin­gle en­tity.

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