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Premier Li urges more efforts to attract foreign investment

Updated: Jul 30,2017 11:30 AM

”New measures should be introduced to remove or relax restrictions on the share ratio of foreign investment in some sectors such as manufacturing and service to further open up the market,” Premier Li Keqiang said at the State Council executive meeting on July 28.

“This will send a strong signal of increasing the inflow of foreign capital, and stimulate zest for competition among domestic enterprises,” Premier Li added.

The meeting decided to further attract foreign investment and create a more open business environment.

It’s of great significance to build an international business environment governed by law and further boost foreign investment, in a bid to promote the supply-side structural reform and maintain the medium-to-high speed of economic growth, said the Premier.

He stressed that the management model of pre-establishment national treatment with a negative list, already in trial in the country’s 11 free trade zones to draw foreign investment, should be introduced nationwide as soon as possible.

“We must make sure the policies of cutting fees and taxes are fully implemented. Selection of enforcement inspectors and market players for checks should be random and open, which is an effective international practice of government supervision,” he said.

During his inspection of a service center in China (Liaoning) Pilot Free Trade Zone (FTZ) in Dalian, Premier Li said registration procedures for both domestic and foreign enterprises should be unified and treated on an equal basis.

At the executive meeting on July 28, the Premier said that foreign enterprises’ registration and filing records should be at the same single window and single form with domestic companies.

At the end of meeting, Premier Li asked that, in principle, the measures determined at the meeting should be fully implemented by the end of September.

“Government departments should come up with plans as soon as possible to implement these measures, and put them into quick action. We should seize time to take the lead with a new round of opening-up and investment policies,” said the Premier.