China publishes guideline to optimize, attract foreign investment

China issued a guideline to further optimize the foreign investment environment and intensify efforts, including 24 specific measures in six aspects, to attract foreign investments on Sunday.

Here are some of the steps:

Improving quality of foreign capital utilization

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- Foreign investors are encouraged to establish research and development centers in China and undertake major scientific research projects. Foreign-invested projects in the field of biomedicine will enjoy accelerated implementation.

- Steadily increase the number of pilot areas to open value-added telecommunications services.

- Supporting foreign-invested enterprises transfer industries from China"s eastern regions to central and western regions, northeastern regions, and border areas.

Employees work at the Tesla Gigafactory in Shanghai, Nov 20, 2020. [Photo/Xinhua]

Guaranteeing national treatment of foreign-invested enterprises

- Ensuring that foreign-invested enterprises fully engage in government procurement activities according to law. The government will introduce relevant policies and measures as soon as possible to further clarify the specific standards for "manufactured in China" and accelerate the revision of the Government Procurement Law.

- Supporting foreign-invested enterprises to participate in the formulation of standards on an equal footing according to the law.

People visit the Achievement Exhibition of China"s Trade in Services during the 2022 China International Fair for Trade in Services in Beijing, Sept 1, 2022. [Photo/Xinhua]

Strengthening protection of foreign investment

- Resolutely crack down on malicious speculation that infringes on the legitimate rights and interests of foreign investors via publishing and spreading false information on the internet, and seriously investigate and punish relevant responsible institutions and persons in accordance with the law.

- Strengthening intellectual property rights on administrative protection, and intensifying intellectual property rights administrative enforcement

Improving facilitation of investment and operation

- Exploring a convenient and secure management mechanism for cross-border data flows and establish a green channel for qualified foreign-invested enterprises to efficiently carry out security assessments for the export of important data and personal information, and promote the safe, orderly, and free flow of data.

- The government will provide convenience to foreign executives, technical personnel and their families in terms of entry, exit and residence, said the document.

Increasing fiscal and tax support

- Increasing protection of the rights and interests of foreign companies and providing them with stronger fiscal support and tax incentives.

Improving ways to promote foreign investment

- Improving working mechanism for attracting foreign investment; supporting locals to carry out activities for attracting investment and attending exhibitions overseas, as well as inviting foreign investors to China.

- Expanding channels for promoting foreign investment and improving the evaluation of foreign investment promotion.

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