Measures to promote effective utilization of foreign capital, economic development

The State Council recently released measures to further promote the opening up and improve business environment to attract more foreign investment and to boost the high-quality economic development through effective utilization of foreign capital.

Firstly, China will further relax control over market access to gradually allow private capital into the fields of finance, services, agriculture, mining, and manufacturing.

Secondly, China will deepen reform of the administrative system by simplifying administrative procedures and delegating powers to lower levels, such as powers of examination and approval of foreign investment.

Thirdly, China will continuously promote more foreign investment in Central and Western China and in the fields of modern agriculture, ecological construction, advanced manufacturing, modern service, and encourage foreign mergers and acquisitions.

Fourthly, China will strengthen the law enforcement of supervision to create a market with a more fair and orderly competition. It will strengthen the protection of intellectual property rights, promote the establishment of social credit systems, and set up and enhance the complaint mechanism for foreign-funded enterprises across the country.

Fifthly, China will promote the effective utilization of foreign capital through national-level development zones.

Chinese source: http://www.gov.cn/