See More on Facebook

Business, Economics

More changes friendly to foreign investors on way in China

China is courting more FDI as their cash reserves run lower.


Written by

Updated: October 18, 2019

China will roll out more measures friendly to foreign investors, including further removing business restrictions and leveling the playing field for foreign businesses, to foster a more enabling business environment and attract overseas investment.

The decision was made on Wednesday at a State Council executive meeting chaired by Premier Li Keqiang. Meeting participants decided to open up more areas. Restrictive measures outside the national and FTZ negative lists on foreign investors’ market access will be consolidated.

Restrictions will be lifted on the business scope for those foreign-invested banks, securities companies and fund management firms that are already operating in China.

Policies on foreign investment in the automobile industry will be refined, including giving equal treatment in market access to domestic and foreign-invested new energy vehicles produced in China.

“We must improve our policies and implement them well,” Li said. “Promises made must be delivered. No failure is allowed.”

It also was decided to further facilitate investment. The pilot reform to facilitate the payments of revenues under capital accounts will be introduced in more places. Foreign investment made to mainland companies will be eligible for equity investment by these firms. Participants urged protection of the lawful rights of overseas investors on an equal footing, and prohibition of forced technology transfers in any form. Business confidentiality of foreign investors will be protected, they said.

Where the law permits, government purchases will not be limited based on the ownership types of companies the government buys from. Stronger incentives will be given to local level government in attracting foreign investment. More comprehensive bonded zones will be set up in central and western regions.



Enjoyed this story? Share it.


China Daily
About the Author: China Daily covers domestic and world news through nine print editions and digital media worldwide.

Eastern Briefings

All you need to know about Asia


Our Eastern Briefings Newsletter presents curated stories from 22 Asian newspapers from South, Southeast and Northeast Asia.

Sign up and stay updated with the latest news.



By providing us with your email address, you agree to our Privacy Policy and Terms of Service.

View Today's Newsletter Here

Business, Economics

Nepal’s luxury hotels are growing but the rooms are empty

There are 15 five-star hotels in the country, and a dozen more are being planned even as existing hotels continue to report a significant drop in profit. High-end hotels might be proliferating across the country but there aren’t enough guests to fill them up, according to the financial reports of Nepal’s three key five-star institutions. The first quarter financial reports from Taragaon Regency Hotels, Soaltee Hotel and Oriental Hotels, all of which are listed on the Nepal Stock Exchange, showed that profits have taken a nosedive after posting record profits last fiscal year. The first quarter of the fiscal year runs from mid-July to the end of September. The three hotel groups say that unhealthy competition, like price undercutting, a demand-and-supply gap, and a growing number of backpackers are behind the sharp fall in earnings. According to its report, Oriental Hotels, which operates Radi


By The Kathmandu Post
November 21, 2019

Business, Economics

Huawei to match Google’s mobile services by Q1 2020

The company to support more Android apps on its phones. Huawei may soon be able to offer Android developers a full range of the essential mobile services required for their apps as the ones provided by Google. This would allow more Android apps to work on new Huawei phones affected by a ban that forbids the use of Google mobile services on these handsets. Mr Zhang Ping’an, president of Huawei Consumer Cloud Service told The Straits Times in an interview at Huawei’s Asia-Pacific Developer Day last Wednesday (Nov 13) that Huawei Mobile Services can “replace 90 per cent of Google Mobile Services by December”. These mobile services from Google and Huawei are used by developers to enable key functions in their mobile apps to, for


By The Straits Times
November 21, 2019

Business, Economics

Trade disputes between Korea and Japan show no sign of abating

President Moon Jae-in blames Japan’s export controls for GSOMIA withdrawal. Escalating trade tension between South Korea and Japan shows no sign of abating as two rounds of bilateral talks to resolve disputes triggered by Japan’s export curbs could not reach common ground. On Tuesday, the two neighboring nations held the second round of talks at the World Trade Organization in Geneva after failing to reach a consensus at the first consultations on Oct. 11. “During two rounds of six-hour intensive consultations, the two nations became more aware of each other’s measures and positions in the process. But we don’t think the two sides have changed their positions,” Chung Hae-kwan, director general in charge of legal affairs at the Trade Ministry, told reporters at a press briefing in Geneva following a meeting with his Japanese counterparts on Tuesday. “We pointed out that Japan’s exp


By The Korea Herald
November 21, 2019

Business, Economics

Moon says volunteer military system needs time

The president says South Korea will transition to a volunteer army. South Korea needs to move to a volunteer military system, but the switch from the current conscription system will need time and preparation, President Moon Jae-in said Tuesday. “(A volunteer system) is something our society must move toward. But at present, the conditions are not right to introduce a volunteer system, (the change) needs to be planned in the mid- to long-term,” Moon said, speaking in a live televised question-and-answer session with 300 selected civilians. Moon said that measures such as increasing the number of professional soldiers and improving military har


By The Korea Herald
November 20, 2019

Business, Economics

Gota wins Sri Lanka elections, extends olive branch to all

The race was called Sunday with the former defence chief winning. President elect, Gotabaya Rajapaksa, yesterday pledged to fully assist the Election Commission in holding elections. He made this statement at the Elections Secretariat, where the official results of Saturday’s presidential election were declared. Rajapaksa is to be sworn in at Ruwanweliseya, Anuradhapura today. He is to visit the Sri Maha Bodhi as well. Rajapaksa obtained 6,924,255 votes (52.25%) while Sajith Premadasa obtained 5,564,239 (41.99%.) Rajapaksa secured a victory margin of over 1.3 million votes. Jathika Jana Balawegaya candidate, Anura Kumara Dissanayake obtained 418,553 (3.16%) votes, not enough to save his deposit. Gotabaya also emerged victorious in Kalutara, Galle, Matara, Hambantota, Moneragala, Ratnapura, Badulla, Kurunegala, Puttalam, Gampaha, Kandy, Matale, Polonnaruwa Colombo, Kegalle and Anuradhapura distr


By The Island
November 18, 2019

Business, Economics

N. Korea says it sent ultimatum to S. Korea over Mount Kumgang project

Mount Kumgang is a joint economic venture. North Korea sent an ultimatum to South Korea earlier this week that it will unilaterally remove the South-built facilities from its Mount Kumgang resort unless Seoul tears them down on its own, Pyongyang’s official news agency reported Friday. The North’s tough stance suggests little room for inter-Korean negotiations that South Korea has sought in an effort to keep the long-suspended tour project that was considered one of the most tangible symbols of inter-Korean reconciliation and cooperation. North Korean leader Kim Jong-un (Yonhap) “We sent an ultimatum on Nov. 11 that i


By The Korea Herald
November 15, 2019