BEIJING, Sept. 26 -- The Chinese government will roll out more measures to facilitate the delivery of major foreign-invested projects, lower tariffs on some imported goods and streamline customs clearance procedures at a faster pace, as was decided at the State Council executive meeting presided over by Premier Li Keqiang on Wednesday.
The measures aim to expand opening-up and foster a fairer, more convenient and more enabling environment for foreign investment.
The Chinese government places high importance on foreign investment facilitation. Premier Li has emphasized on many occasions the pledge to widen market access, accord equal treatment to Chinese and foreign companies, more effectively protect intellectual property rights, and better facilitate foreign investments in China.
It was decided at the Wednesday meeting that an online filing process will be introduced in regulating foreign investment in China. Unified market access criteria will be applied to both Chinese and foreign investment in areas outside of the negative list.
Large-scale foreign investments eligible for major project development schemes will receive support on land and sea-use approval procedures and accelerated environmental impact assessment and their logistics costs will be reduced.
More areas will be open to foreign investment. The withholding tax deferral policy for reinvestment by foreign investors in China will be expanded from the designated encouraged projects to any areas and projects that are not prohibited.
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