Suzhengfa No.33 Go back »

2017-04-09 | Nanjing

Suzhengfa No.33 is published in accordance with Guofa No.5, the circular issued by the State Counci that provides measures to boost foreign investment, as part of an effort to build “a new open economic system” in Jiangsu.

China is planning to further streamline government administration, improve regulations and reduce business transaction costs to create a favorable business environment for foreign investment.

The circular encouraged foreign investment to take part in the implementation of China’s innovation-driven development strategy and upgrades in the manufacturing sector, and encouraged foreign talent to start businesses in China.

Meanwhile, the government called for creating a market environment of fair competition, which requires related departments to examine the business licenses and qualification applications of foreign-invested enterprises with the same standards and processing timetable as those for domestic-invested enterprises.

The circular also called for more efforts to attract foreign investment, including to form Jiangsu-specific favorable policies to support foreign-invested projects that can facilitate employment, economic development and technology innovation, and to reduce the costs for the investment and operation of foreign-invested enterprises.