Foreign investment drive
More measures to better facilitate foreign investment will be introduced, according to a guideline published by the State Council on June 15.
Policies will be adopted to promote high-standard liberalization and facilitation of trade and investment, and create a fairer, more transparent and attractive investment environment based on international standards, the guideline said.
It will also strive to preserve China’s status as a major destination for foreign investment, it said.
Market access will be widened, and restrictions on the agricultural, mining and manufacturing sectors will be either canceled or lessened. The mechanism for eligible overseas investors will be refined, and foreign investors will be introduced to futures trading of crude oil and iron ore, according to the guideline.
The ability of foreign-invested enterprises to use their funds will be further improved, and foreign-invested financial institutions will receive support to take part in underwriting bonds issued by local governments.
The reform to streamline administration, enhance compliance oversight and improve services will be furthered in foreign investment, and approval procedures for foreign expats to come to work in China will be simplified, the guideline said.
Policies for land use and social insurance will be refined to reduce corporate costs for foreign-investment enterprises.
The legitimate interests of foreign investors will be better protected. Counterfeiting will be severely dealt with. The ceiling of compensation for intellectual property infringements will be significantly raised, it added.
More foreign investment will be directed to central and western areas. The financing channels for foreign-invested enterprises in western regions and the old industrial bases in Northeast China will be further expanded. Their logistics cost will also be lowered. Development zones at national levels will be encouraged to serve as an important platform to lead efforts in better absorbing foreign investment, the guideline said.