22 Policies to Further Opening-up in China

The State Council published measures on promoting foreign investment in China on August 16 and Premier Li Keqiang has said China would open its doors and welcome more foreign investment. Here are the 22 State Council policies to attract foreign investment to China.

Lower threshold of access into China

01. Allow market access in pilot free trade zones for foreign investors.

02. Enlarge the scale of opening-up for market access to include:

Special vehicles and new energy vehicles, Ship design, Maintenance of regional and general aircraft, International marine transport, Railway passenger transport, Oil station, Internet service providers, Call centers, Performance brokerages, Banking, Securities industry, Insurance.

Fiscal and taxationpolicies

03. Allow qualified investment projects to enjoy a deferred tax policy and relieve them of the need to pay withholding income tax.

04. Promote a preferential income tax policy for advanced technology enterprises that hasbeen piloting in demonstration cities engaged in service out-sourcing around the country.

05. Establish preferential taxation policies for overseas income of Chinese residents and enterprises.

06. Encourage international companies to establish regional headquarters in China.

07. Encourage foreign investment in western and north eastern areas of China.

08. Develop special bond products for regional governments which balance revenue and funding.

Good investment environment

09. Set up pilot administrative reform areas in national development zones.

10. Give priority to projects with foreign investment in terms of construction and quotas in national development zones.

11. Build enclave parks in qualified national development zones, with permission of the state council.

12. Introduce service-providing foreign companies to China, and pilot maintenance services for advanced technology and high value-added programs at home and abroad.

Convenient entries andexit for overseas expertise

13. Provide more convenience foroverseas experts when applying for work permits in China with “inform+commitment”and “accept applications lacking minor materials” policies.

14. Lengthen time limit of visasfor overseas experts.

Improve businessenvironment

15. Abolish or revise laws and regulations contrary to opening-uppolicy in China.

16. Guarantee same treatment of foreign-invested companies and local companies.

17. Allow transfers of income from investments, including profits and dividends, to foreign countriesin RMB or a foreign currency.

18. Allow use of the new “Single window, single form” registration mode for business registration of foreign-invested companies.

19. Streamline procedures and reduce limits for foreign investors to establish foreign-invested companies through mergers and acquisitions.

20. Enhance punishment for torts and unlawful acts.

21. Streamline import procedures of samples and reagents for qualified research centers, and increase foreign investment in R&D.

22. Ensure the stability and continuity of relevant policies and their strict implementation by regional governments.

 Source:gov

 Feel free to add "Ask DragonCity" if you have any questions

Since you're here

Do you want to share a good news story? Let us know if you want to tell a story or share some news with us.