China issues business-friendly guidelines for foreign investors

According to the Chinese government website yesterday, the State Council has issued guidelines on using the foreign investment. Its primary focus is safeguarding the national treatment of foreign-funded enterprises.

The guidelines aim to create a more fair, transparent and predictable business environment for foreign investors.

China is looking to comprehensively eliminate restrictions that are not included in the negative lists in both free trade zones and the rest of the country.

First on its list is expediting the financial sector and optimizing the foreign investment policies for automobile industry. In order to do so, China will optimize scientific and technological innovation services for foreign-invested enterprises. China is also geared to improve the construction of pilot free trade zones.

Establishing the number of comprehensive bonded zones in the central and western regions will be made a priority as more efforts will be made to improve state-level economic and technological development zones.

China will move on to lessen the cost of cross-border capital use. That way the approval process of foreigners who would like to work in China will be improved for the use of land for foreign-funded projects further deepening reform to facilitate investment. It will fully implement the foreign investment law and improve institutions that will action on complaints.

Furthermore, China will strictly implement the intellectual property rights and IPR protection mechanism.