China Gives Theses Benefits to Expats & Foreign Companies!

As an expats who are working and living in China, do you know the policies which benefit expats and foreign companies? Do you know the trend and environment in the near future?

Here are the “Done List” and the “To Do List” in the Government Work Report Policies which benefit expats and foreign companies. 

Let’s check it! 

• Pushed ahead with the Belt and Road Initiative

• Included RMB in the IMF’s Special Drawing Rights basket

• Lauched Shenzhen-Hong Kong Stock Connect

• Built 12 new integrated experimental zones for cross-border e-commerce

• Approved the establishment of another 7 pilot zones

• Simplified filing process for setting up foreign enterprises

• Utilized more than ＄130 billion of overseas investment, ranking first among developing countries

1. Promote exchange and cooperation in several fields 

• Deepen international industrial-capacity cooperation in equipment manufacturing, technologies, standards, and services

• Strengthen exchange and cooperation in education, culture and tourism

• Hold the Belt and Road Forum for international cooperation

2. Effective measures to integrate international trade

• Improve import and export policies

• Expand the coverage of export credit insurance and provide export financing insurance for all insurable complete sets of large equipment

• Establish a seed fund to encourage innovative development of services trade

• Support the development of market procurement trade and integrated foreign trade service firms

• Accelerate the development of demonstration centers for transforming and upgrading foreign trade

• Facilitate the extension of processing trade to the medium-high end of industrial chains and its relocation to central and western regions

• Extend the practice of processing international trade through a single window and achieve nationwide customs clearance integration

• Increase import of advanced technologies, equipment, and important parts and components

3. Big moves to improve the environment for foreign investors

• Revise the catalog of industries open to foreign investment, and make service industries, manufacturing, and mining more open to foreign investment

• Encourage foreign-invested firms to be listed and issue bonds in China

• Allow foreign-invested firms to take part in national science and technology projects

• Treat foreign firms the same as domestic firms in license application, standard-setting, and government procurement

• Enjoy the same preferential policies under the Made in China 2025 Initiative as domestic firms

• Build 11 high-standard pilot-free trade zones

Source: English.gov.cn