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Premier: Reassure and benefit foreign investors in opening-up

Updated: Sep 14,2020 07:13 AM

China should build a more sound and open environment to show foreign investors its determination in opening-up and benefit them through opening-up policies.

Premier Li Keqiang made the remarks at a national teleconference on deepening administrative reform and optimizing the business environment on Sept 11.

Competitiveness in the business environment represents global competence, Premier Li said, emphasizing the need to implement the foreign investment law and relevant regulations.

Administrative regulations, departmental rules and normative documents inconsistent with the investment law should be trimmed, with equal treatment and fair competition between Chinese-funded and foreign-invested enterprises, he said.

Meanwhile, all regions and government departments should follow the negative list for foreign investment access, without imposing restrictions beyond it, the Premier said.

The Premier stressed applying favorable conditions to some big foreign investment projects in terms of approval for land use, cross-border flow of personnel and other aspects to kick these off smoothly.

He urged further efforts to steady existing foreign investors and introduce new ones, and solicit opinions and suggestions from foreign chambers of commerce and foreign trade companies to help solve related problems and enhance appeal for transnational investment.

Premier Li stressed providing services and policy support, such as facilitating customs clearance procedures and easing access to port services with a competition mechanism, raising service efficiency and reducing fee rates, for trade expansion.

Improvements are necessary in policies, such as export tax refunds, export credit and credit insurance to micro, small and medium-sized enterprises in foreign trade, with diversity encouraged in both exports and imports, Premier Li said.

Pilot programs to develop overseas warehouses should continue, and providers of comprehensive foreign trade services can play a bigger role, he said.

The Premier called for improving processes of categorizing, declaring and inspecting commodities, as well as managing foreign exchange trading in a way aligned with new trade patterns.