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China announces policies to lure foreign investors

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PHOTO: Shanghai skyline – QANTAS

Are the Chinese removing layers of ‘red’ tape? China is offering 20 new measures friendly to foreign investors, removing business restrictions to encourage a more “fair, transparent and predictable” business environment.

China’s State Council released a guideline pledging to shorten negative lists and eliminate restrictions, opening up more sectors to foreign investors.

The Nation reports that all restrictions on the business scope of foreign banks, securities firms and fund management companies will be lifted, and equal market access will be given to new energy vehicles produced by foreign automakers, according to the document.

The new rules will lower the cost of cross-border spending and make it easier for foreigners to work in China. Foreign businesses will be encouraged to make equity investment in China.

China will also strengthen protection of foreign investors’ interests, fully implementing the Foreign Investment Law, the document said.

Authorities will establish and improve methods of accepting complaints from foreign businesses, improve intellectual property rights protection and strictly ban the forced transfer of technology.

SOURCE: The Nation

 

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Jack Burton is an American writer, broadcaster, linguist and journalist who has lived in Asia since 1987. A native of the state of Georgia, he attended the The University of Georgia's Henry Grady School of Journalism, which hands out journalism's prestigious Peabody Awards. His works have appeared in The China Post, The South China Morning Post, The International Herald Tribune and many magazines throughout Asia and the world. He is fluent in Mandarin and has appeared on television and radio for decades in Taiwan, Mainland China, Hong Kong and Macau.

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