DALIAN CHINA  DALIAN CHINA
The State Council Printed and Distributed the Opinions on Further Improving the Utilization of Foreign Capital
2019-11-08

Upon approval by Premier Li Keqiang, the State Council recently Printed and Distributed the Opinions on Further Improving the Utilization of Foreign Capital (hereinafter referred to as" Opinions").

 

According to the Opinion, guided by Xi Jinping's thought of socialism with Chinese characteristics in the new era, we will implement the decisions and arrangements made by the CPC Central Committee and the State Council on stabilizing foreign investment, combining with the new situation, new characteristics and new challenges faced by our country in utilizing foreign capital, we will continue to deepen the reform of "streamline administration, delegate powers, and improve regulation and services" to further improve the utilization of foreign capital, with the starting point of stimulating market vitality and boosting investment confidence, with the focus on safeguarding national treatment of foreign-invested enterprises, and with the focus on creating an open, transparent and predictable environment for foreign investment. The "Opinions" put forward a total of 20 policy measures in four areas.

 

First, we will deepen opening up to the outside world. We will continue to reduce the negative list of foreign investment in the country and the pilot free trade zones, comprehensively clear up and remove restrictions not included in the negative list, speed up the process of opening up the financial sector, optimize foreign investment policies in the automotive sector, and create a fair business environment.

 

Second, increase investment promotion efforts. We will optimize science and technology innovation services for foreign-funded enterprises, upgrade the construction level of pilot free trade zones, improve the quality of attracting foreign investment on the open platforms of state-level economic and technological development zones, and give priority to the creation of a number of comprehensive bonded zones in central and western regions.

 

Third, deepen the reform of investment facilitation. We will reduce the cost of cross-border use of funds, make it easier for expatriates to work in China, and optimize the procedures for approving planned land for foreign-funded projects.

 

Fourth, protect the legitimate rights and interests of foreign investment. We will fully implement the Foreign Investment Law, establish and improve complaint handling agencies for foreign-funded enterprises, strengthen the normative implementation of regulatory policies, improve the transparency of the formulation of administrative regulatory documents, give full play to the important role of judicial protection of intellectual property rights, improve the working mechanism for intellectual property rights protection, encourage foreign-invested enterprises to participate in the formulation of standards for medical devices, food and drugs, and ensure that suppliers equally participate in government procurement in accordance with the law.