China to launch new measures to better utilize foreign investment

EYEAFRICA TV: Beijing, China: China will introduce new policies and measures for further utilizing foreign capital, according to a press conference held Tuesday by the Information Office of the State Council in Beijing.
Spokesmen from the Ministry of Commerce, the Ministry of Finance and the State Intellectual Property Office made introduction to the policies and measures at the briefing.
The State Council plans to issue the “Opinions on Better Utilization of Foreign Investment” soon, putting forward 20 specific measures in four aspects: further opening up, stepping up investment promotion, deepening reform to facilitate investment, and strengthening the protection of the legitimate rights and interests of foreign investors, according to officials.
“We will continue to shorten the negative list of foreign investment access to the country and pilot free trade zones, and clean up and cancel restrictions on companies which are not included in the list. We will accelerate the opening up of the financial industry, optimize foreign investment policies on automobiles, and strive to create a fair environment for business operations,” said Wang Shouwen, vice minister of the Chinese Ministry of Commerce.
The Opinions requires the setup of comprehensive bonded zones in eligible central and western Chinese regions with development needs under certain circumstances. China will support foreign-invested enterprises to make independent choices on their own ways of borrowing, and encourage the use of foreign capital in domestic equity investment in accordance with the law.

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