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Beijing will relax the market access for foreign financial institutions
July 27 2018
This year, Beijing will create a more attractive investment environment, significantly relax market access, study and formulate the expanding measures on the financial industry's opening for Foreign-fund Enterprises, and support foreign financial institutions to participate in the construction of Beijing's capital market.On the 25th, the State Council Information Office held meeting on “Accelerating the establishment of a fair competitive business environment”, the deputy mayor of Beijing, Wang Hong said. She revealed that this year Beijing will speed up the reform of the investment project commitment system and gradually realize the “zero approval” of corporate investment.Taking advantage of the expansion of the service industry, Beijing has continuously improved the level of international development and further relaxed the market access of foreign capital. In accordance with the unified requirements of the State, foreign investment fully implements the pre-entry national treatment and the negative list management system, and continuously reduces the negative list of the service industry. And will further expand the use of foreign capital.
The development of foreign investment in Shanghai will enter a new phase
July 17 2018
First, there are fewer restrictions on market access. In particular, the opening up of the service sector will help introduce new technologies, new business formats, new business models and new products so as to give full play to the role of foreign investment in the development of the real economy.Second, with the deepening of the reform. We will implement the system of pre-establishment national treatment plus a negative list across the board while implement the national treatment after admission and treat all enterprises registered in our country equally.Third, support for innovation has been upgraded. System innovation in the pilot free trade zones pays more attention to giving greater autonomy to these zones. And more efforts have been made to explore the establishment of a free trade port so as to further demonstrate the piloting effect of foreign investment-related work in deepening the reform in an all-round way and opening up."Many aspects can be replicated. Different regions can compete with each other with more favorable policies, with more and better land. However, it takes a very high price to replicate business environment. It is not easy to replicate," Yang Chao, deputy director of the Shanghai Municipal Commission of Commerce said. He introduce that there are many such examples that companies moved out from Shanghai for lower-cost land and manpower, but later found that it is difficult to recruit high-caliber people. Even if they recruited the people they need, it is difficult to retain them because of the lack of good schools, good hospitals and good business districts.Shanghai has already done a great deal of work in urban construction and livable areas. Take the PM2.5 indicator for example. Shanghai has seen remarkable improvement over last year. Despite skyrocketing prices of land in Shanghai's downtown area, the government built many green spaces rather than tall buildings. Shanghai is determined to be built into a city of innovation, a city of humanities, and a city of green.Yang expressed his hope that the Shanghai Investment Promotion Organization (SIPP) will play a bigger role in promoting two-way investment in Shanghai. "First is policy-orientated and deliver policy information timely; second is demand-orientated and improve the effectiveness of investment promotion work; third is service-oriented and effectively serve the member institutions. The SIPP will present to the world a good story of China, of Shanghai, and let more foreign investors to understand Shanghai and to invest in Shanghai."Source: China.org.cn
Shanghai focuses on promoting the opening of Aviation and Other fields
July 12 2018
In the “100 measures to further expand opening-up” action plan released by Shanghai on the 10th, the leading industries such as automobiles, aircraft and ships are key open areas. At the press conference of the municipal government on July 11, Huang Ou, the deputy director of the Shanghai Economic and Information Committee, introduced that Shanghai encourages foreign investors to invest in advanced manufacturing and fully implements the pre-entry national treatment plus negative list management system. Focus on promoting further opening up in the fields of automobile, aviation, shipbuilding, green import remanufacturing and maintenance, and promote the operation of major industrial projects. And will develop the automobile and electronic information industry, and actively cultivate industrial clusters such as civil aviation, biomedicine, high-end equipment, and green chemicals.He said that according to the national deployment, it will speed up the elimination of restrictions on foreign-investment ratios in the automobile manufacturing industry and the number of joint ventures of OEMs. Attracting world-renowned Foreign-Funded Enterprises to build R&D centers and High-end Automobile Projects, supporting high-performance motors, batteries, electronic control and other core components supporting projects.The aviation industry will attract foreign investment in aircraft engine assembly, airborne systems and key components, support foreign investment in Shanghai to develop aircraft maintenance and department maintenance services, and strengthen cooperation in talent, technology and management.At the same time, cancel the foreign investment restrictions in the aircraft industry, including trunk aircraft, regional aircraft, general aircraft, helicopters, drones, and aerostats.The Shipbuilding Industry will carry out international cooperation at a higher level, insisting on the direction of high-tech ships and offshore engineering equipment, and canceling foreign investment restrictions in ship design, manufacturing and repair. Support foreign investment in the development of luxury cruise ships and other high-end shipbuilding, ship design and research and development and other high-end industrial chain, support foreign high-end ship equipment, key parts and components projects.In the green import re-manufacturing and maintenance industry, the national import high-end equipment re-manufacturing industry demonstration park will be built. Accelerate research to provide support and assistance to Foreign-funded Enterprises engaged in green re-manufacturing and global maintenance operations, and actively assist in the approval process for imported equipment in the re-manufacturing process.
Shanghai expo to advance sustained growth in trade
June 08 2018
Preparatory work is in full swing for the forthcoming China International Import Expo in Shanghai, with organizers getting enthusiastic responses from companies both at home and abroad.According to the organizers, more than 160 Fortune 500 companies' delegates and industry leaders have indicated their willingness to participate in the exhibition. Companies from over 120 countries and regions are expected to attend the exhibition.The organizers will also look to rope in over 150,000 domestic and overseas buyers in the next five months. To date, 98 State-owned enterprises are among the first group of buyers at CIIE. Local governments of other regions have also started to set up their own trading groups.Three forums will be held at CIIE from Nov 5 to 10, attracting more than 800 participating companies. Themed around opening-up, creativity and investment, the forums will discuss ways to further promote free trade and investment, create a more open world economy, discover new growth areas for world trade and advance the sustained growth of world trade.The exhibition organizer has made great offline and online efforts for CIIE. On April 18, CIIE launched an online trading platform which aims to give the six-day event an extended life online throughout the year. With this, companies participating in the exhibition will be able to display their products, seek potential partners, and complete online trading with digital payment systems.In addition, the organizer also held a meeting for 47 buyers and 25 exhibition participants to bridge the supply and demand gap, which will hopefully lead to better transaction results.Shang Yuying, director of the Shanghai Commission of Commerce, said that the municipal government has chosen a number of large-scale comprehensive bonded exhibition and trading platforms to provide precise trading services to more companies. To that end, the local customs district in Shanghai is also exploring a new management model so that the bonded exhibition can be held throughout the year."CIIE is an ideal opportunity for Shanghai to upgrade its trade, consumption and opening-up," she said."With this, Shanghai will be able to build a global import trade promotion network, attract internationally competitive commodities and services, attract more trading entities to settle down in the city so that Shanghai's creativity and competitiveness will be greatly enhanced," she added.Shang also pointed out that one of the major tasks for the CIIE organizers is to complete the cooperation mechanism with neighboring provinces including Jiangsu, Zhejiang and Anhui, aiming at building a number of commercial, travel, cultural and sports brands featuring the Yangtze River Delta region.Source: China Daily
Beijing to build two intellectual property protection centers
April 23 2018
Beijing will establish two intellectual property protection centers this year, according to the information office of the Beijing municipal government.The two centers will mainly serve sectors of new information technology, high-end equipment manufacturing, new materials and bio-medicine, said Pan Xinsheng, deputy director of Beijing intellectual property office.The centers are expected to shorten the patent review cycle from one year to six months.In 2017, Beijing received 186,000 patent applications and 107,000 patent authorizations, up 4.75 percent and 4.5 percent respectively.In the past five years, 192,000 cases of patent infringement and counterfeiting were investigated and punished in China, as well as 173,000 cases of trademark infringement and counterfeiting.
Hainan to take on bigger roles in reform, opening-up
April 16 2018
China's southernmost province is going to take on bigger roles in pushing the country's reform and opening-up as a rosy blueprint has been rolled out for the tropical island.Efforts will be made to turn Hainan Province into a pilot zone for deepening reform and opening-up on all fronts, a pilot national ecological zone, an international tourism and consumption center, and a major national strategic logistics zone.These grand goals were outlined Friday at a gathering celebrating the 30th anniversary of the founding of Hainan Province and the Hainan Special Economic Zone.Striving to become a new model for deepening reform and opening-up on all fronts and achieve a higher level in this regard is the best way to celebrate the province's 30th anniversary as well as one major move to mark the 40th anniversary of China's reform and opening-up, Chinese President Xi Jinping said at the gathering.China will develop Hainan into a vivid example of socialism with Chinese characteristics for a new era and make the island province an example for the nation, added Xi, also general secretary of the Communist Party of China (CPC) Central Committee and chairman of the Central Military Commission.TOWARD A FREE TRADE PORTAs China's largest special economic zone, Hainan is going to integrate further with the global economy.Xi announced a decision by the CPC Central Committee to support developing of Hainan into a pilot free trade zone and support Hainan to gradually and steadily push ahead with the building of a free trade port with Chinese characteristics.A free trade port is the world's most open form of economic zone, which has brought prosperity to places like Singapore and Hong Kong thanks to its broad-based preferential policies on trade and investment.Hainan should focus on tourism, modern services, and high-tech sectors instead of intermediary trade and manufacturing, while efforts will be made to pilot more flexible policies and regulation mechanism to improve business environment, Xi pointed out.Xi also encouraged Hainan to conduct multi-level and multi-field cooperation with countries and regions along the Belt and Road and facilitate exchanges in culture, education, agriculture, and tourism.China welcomes investors worldwide to invest and start businesses in Hainan and participate in the building of a free trade port, thus sharing the country's development opportunities and outcomes of its reform, Xi said.A PIONEER IN HIGH-QUALITY ECONOMIC DEVELOPMENTHainan should resolutely implement the new development concept to build a modernized economy and come to the forefront of promoting high-quality economic development, Xi pointed out.The Chinese economy has transitioned from a phase of rapid growth into a stage of high-quality development, according to the 19th CPC National Congress.The island should develop new-generation information technology and the digital economy and integrate the latest technologies like big data,Internet and artificial intelligence with the real economy, Xi said.Modern services including medical care and finance should be a major pillar of Hainan's economy, especially tourism, as being an international tourism destination is drawcard of Hainan.To develop the island into an international tourism and consumption center, China plans to make the offshore duty-free shopping policy in Hainan to cover all outbound tourists. Currently Hainan has two duty-free shops, with one in the provincial capital of Haikou and the other in the resort city of Sanya on the southern tip of the island.Hainan also should make full use of its unique resources to develop tropical agriculture and the maritime economy, Xi added.AN ECOLOGY & TALENT-FRIENDLY ISLANDXi stressed that all the above developments should be green to make the tropical island a garden for the country throughout the year.The CPC Central Committee has decided to support the province to build a national ecological development pilot zone, with the strictest ecological and environmental protection mechanism and a modern regulation mechanism.It will take global talent to see these ambitions come true and the province is encouraged to attract high-quality education resources and international professionals.Technical personnel and those with professional skills from foreign countries as well as those from Hong Kong, Macao, and Taiwan, will be allowed to work and apply for permanent residence permits in Hainan.Meanwhile, overseas students with master's degrees or above from Chinese universities will be allowed to work or start businesses in Hainan, Xi said.Xi also called for support for the province to establish management systems for recruitment of high-tech personnel from overseas and develop a more open mechanism in this regard.Xi urged local officials to take a long-term vision and devote themselves to achieving these goals."All great achievements are made with continuous effort and all great causes are moved forward as we carry on from the the predecessors," Xi said.
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