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Henan Province promote the foreign investment

December 19 2018

In order to promote the steady growth of foreign investment in the Henan Province and build a new era of comprehensive opening up. On December 10, the Henan Provincial Government issued the "Notice on Actively and Effectively Using Foreign Capital to Promote High-Quality Economic Development", which will greatly relax market access and increase the financial support of foreign-funded enterprises and projects to attract foreign investment into Henan.

Henan will accelerate the opening up of the automobile and aircraft industries, encourage foreign enterprises to invest in new energy vehicles, general aircraft manufacturing and key parts and components, and officially cancel the restrictions on foreign-invested shares in the automobile manufacturing industry and the number of joint ventures in automakers.

In addition, Henan will relax the conditions for foreign investors to set up investment companies, and at the same time, will further relax or cancel the restrictions on the investment conditions of foreign-invested talent intermediaries, and eliminate the proportion of foreign technical personnel engaged in foreign-invested construction engineering design enterprises. 

In addition, Henan's support for new foreign-funded projects and capital increase and expansion has increased significantly. For newly established overseas  regional headquarters and functional institutions will award a reward of no more than 10 million yuan at a time; and a foreign-funded research and development institution that is recognized as a provincial-level major new research and development institution will be awarded a prize of up to 5 million yuan.

Henan will further optimize the business environment, implement foreign-invested business filing and industrial and commercial registration with "in one window", and further reduce the restriction for foreign-invested enterprises.