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Govt announces 20 policies to upgrade business environment for foreign investors

By Zhou Lanxu | chinadaily.com.cn | Updated: 2019-11-08 09:20

Travelers from home and abroad enjoy the sights of the Bund in Shanghai on Sept 27, 2018. [Photo/IC]

China has rolled out 20 measures friendly to foreign investors, including further removing business restrictions and leveling the playing field for foreign businesses, to safeguard a more "fair, transparent and predictable" business environment for foreign enterprises.

The State Council, China's Cabinet, released a guideline on further improving the utilization of foreign investment on Thursday, with pledge to continue shortening the national and free trade zone negative lists for foreign investment and to eliminate restrictions outside the negative lists, opening up more sectors to foreign investors.

All restrictions on the business scope for foreign banks, securities firms and fund management companies will be lifted, while an equal treatment in market access to new energy vehicles produced by domestic and foreign automakers will be ensured by refined policies, the document said.

The guideline also made it clear to deepen reforms to facilitate investment, including to lower the cost of cross-border capital use and make it easier for foreigners to work in China. Foreign businesses will be encouraged to use their capital for equity investment in China.

The country will also strengthen the protection of legitimate interests of foreign investors, fully implementing the Foreign Investment Law, the document said.

Authorities will establish and improve institutions for accepting complaints from foreign enterprises, improve the intellectual property rights protection mechanism, and strictly ban forced transfer of technology.

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