On February 18th, the Central Committee of the Communist Party of China and the State Council issued the "Outline of the Development Plan for the Guangdong, Hong Kong and Macao Dawan District". This plan is a programmatic document guiding the cooperation and development of the Dawan District of Guangdong, Hong Kong and Macao at present and in the future. Planning for the near future to 2022, the long-term outlook to 2035.Guangdong, Hong Kong and Macau Bay Area includes Hong Kong Special Administrative Region, Macao Special Administrative Region and Guangdong Province, Guangzhou, Shenzhen, Zhuhai, Foshan, Huizhou, Dongguan, Zhongshan, Jiangmen and Zhaoqing, with a total area of 56,000 square kilometers. At the end of 2017, the total population is about 70 million. It is one of the regions with the highest degree of openness and the strongest economic vitality in China, and has an important strategic position in the overall development of the country.City positioningThe "Guangdong, Hong Kong, Macao and Dawan District Development Plan Outline" mentioned the optimization and upgrading of the central city. Taking the four central cities of Hong Kong, Macao, Guangzhou and Shenzhen as the core engines of regional development, and will continue to play the comparative advantages to become better and stronger, and enhance the radiation-driven role of the development of the surrounding areas. Regarding Shenzhen, it will play a leading role as a special economic zone, a national economic center city and a national innovative city, accelerate the establishment of a modern international city, and strive to become an innovative and creative city with world influence.Industry PlanningThe Outline proposes to promote the development of a new generation of Information Technology, Biotechnology, High-end Equipment Manufacturing, New Materials, etc. as the new pillar industry. A number of major industrial projects have been cultivated in key areas such as the New Display, Next-generation Communication Technology, 5G and Mobile Internet, Protein and Other Biomedical, High-end Medical Diagnosis and Treatment Equipment, Genetic Testing, Modern Chinese Medicine, Intelligent Robots, 3D Printing, and Beidou Satellite Applications. And a number of strategic emerging industry major projects will be implemented around key areas such as Information Consumption, New Health Technologies, Offshore Engineering Equipment, High-tech Service Industries, and High-Performance Integrated Circuits. And will cultivate and expand New Energy, Energy Conservation and Environmental Protection, New Energy Vehicles and other industries, and form an industrial gathering belt with energy conservation and environmental protection technology research and development and headquarters base as the core.
At present, the Standing Committee of the National People's Congress is actively revising the“Foreign Investment Law(Draft)” and collecting relevant suggestions for the whole people. With the investment promotion, investment protection and investment management as the main content, we will strengthen the promotion and protection of foreign investment.The “Foreign Investment(draft)” will focus on four aspects of foreign investment.Guarantee equal treatment of Domestic and Foreign-funded EnterprisesThe issue of equal treatment has always been a long-term appeal of Foreign-funded Enterprises. Ensuring equal treatment of domestic and foreign-funded enterprises is reflected in the draft provisions.Article 9 of the draft stipulates that, except as otherwise stipulated by laws and administrative regulations, the policies of the state to support domestic enterprises development are equally applicable to foreign-funded enterprises.According to the draft, foreign-funded enterprises participate in the standardization work equally, and the formulation of standards should strengthen information disclosure and social supervision. In addition, the State guarantees that foreign-funded enterprises participate in government procurement activities fairly. Government procurement is treated equally according to the products produced by foreign-funded enterprises in China.Incorporate policy measures to actively attract foreign investment into the law Since the reform and opening up, China has attracted foreign investment based on its national conditions and has become the second largest investor in the world.The Draft stipulates that the State establishes a sound foreign investment service system and provides consultation and services for foreign investors and foreign-funded enterprises in terms of laws and regulations, policy measures, and investment project information.The Draft stipulates that the people's governments at all levels and their relevant departments shall further improve the level of foreign investment services in accordance with the principles of convenience, efficiency and transparency. The relevant competent authorities shall prepare and publish foreign investment guidelines to provide services and facilities for foreign investors and foreign-funded enterprises.Further simplifying foreign investment managementAccording to the Draft, the approval and filing of foreign investment projects shall be implemented in accordance with relevant state regulations. Where the foreign investor invests in an industry or field that requires permission in accordance with the law, it shall go through relevant licensing procedures in accordance with the law. Except as otherwise provided by laws and administrative regulations, the relevant competent department shall review the application for permission of foreign investors in accordance with the conditions and procedures consistent with domestic investment.Strengthening the connection with International Investment RulesA major feature of the Draft is the emphasis on the protection of the legitimate rights of foreign investment, including expropriation and compensation, intellectual property protection, and the free transfer of capital, profits, capital gains, etc. These are important elements of international investment agreements.The Draft makes clear provisions on strengthening the protection of foreign intellectual property rights, and the improvement of foreign-funded enterprises' complaints and rights protection mechanisms.
The draft foreign investment law will be submitted to the plenary session of the National People's Congress for deliberation, according to a decision adopted at a meeting of the NPC Standing Committee which closed on Wednesday. The NPC plenary session will start on March 5.To better implement the report of the 19th National Congress of the Communist Party of China in 2017, the new draft further expanded the article on the system of pre-establishment national treatment plus a negative list, said Li Fei, chairman of the NPC Constitution and Law Committee, while presenting the new draft to lawmakers.Definitions of the terms were included in the article, in addition to a clause requiring the state to give national treatment to foreign investments outside the negative list.In line with provisions in the Constitution, the new draft proposes that the state shall not expropriate or requisition foreign investment, adding that it could only do so under particular circumstances and in the public interest.If the state expropriates or requisitions foreign investment, "due legal procedures must be followed while prompt, fair and reasonable compensation should be made," it noted.Once adopted, the unified law will replace three existing laws, namely the laws on Chinese-foreign equity joint ventures, non-equity joint ventures (or contractual joint ventures) and wholly foreign-owned enterprises.Source: China Daily
The Standing Committee of the National People's Congress (NPC) on Tuesday started reviewing a new draft of the foreign investment law, the latest move to promote the country's opening-up initiative.During the two-day session, members of the top legislature are scheduled to deliberate a new version of the draft law, which has been updated from the first draft submitted to the previous session last month.Once adopted, the unified law will replace three existing laws, namely the laws on Chinese-foreign equity joint ventures, non-equity joint ventures (or contractual joint ventures) and wholly foreign-owned enterprises.To better implement the report of the 19th National Congress of the Communist Party of China in 2017, the new draft further expanded the article on the system of pre-establishment national treatment plus a negative list, said Li Fei, chairman of the NPC Constitution and Law Committee, while presenting the new draft to lawmakers.Definitions of the terms were included in the article, in addition to a clause requiring the state to give national treatment to foreign investments outside the negative list.In line with provisions in the Constitution, the new draft proposes that the state shall not expropriate or requisition foreign investment, adding that it could only do so under particular circumstances and in the public interest.If the state expropriates or requisitions foreign investment, "due legal procedures must be followed while prompt, fair and reasonable compensation should be made," it noted.Source : China Daily
Every year, there are many lists of Business Environment Evaluations, and the standards are different. But the most authoritative is the "World Business Environment Report" released by the World Bank. The data on the business environment indicators ranks the ease of doing business in 190 economies around the world. It has been published 15 times, and has received worldwide attention.Throughout the World Bank's Business Environment Assessment System, its indicators includes the entire life cycle of the company, including “starting a business, handling construction permits, obtaining electricity, registering property, obtaining credit, protecting small and medium investors, paying taxes, and cross-border trade, execution of contracts and bankruptcy. This article only lists a few of the key indicators for your reference.1. Start A BusinessThis indicator reflects the difficulty of starting a business (multiple refers to SMEs). At present, most of China's municipalities, provincial capitals and vice provincial capitals can implement network approval and window processing. The start-up time of enterprises is between 5-8 working days; however, the most small and medium-sized cities in non-developed provinces, start-up enterprises still have to shuttle through multiple departments, and the settlement time is more than 20 working days.2. Handling Construction PermitThis item reflects the difficulty of building a factory/office building. It mainly measures the procedures, time and expenses required for the building a factory or office building, including obtaining the necessary permits and approvals, submitting the required notices, applying for and accepting all inspections, and the entire process of getting the utility. At the same time, this indicator item should also examine the building quality control index, assess the quality of building regulations, quality control and safety mechanisms, liability and insurance systems, and qualification requirements.3. Obtain The ElectricityThis item reflects the difficulty of obtaining power supply, it mainly measures the procedures, time and expenses for the company to obtain permanent power connection. In addition, we must measure the reliability of electricity supply, the transparency of electricity and electricity prices.4. Property RegistrationThis item reflects the extent that companies are protected by property rights. Mainly measure the steps required to complete the registration of property rights, the time and cost. 5. Tax PaymentThis item reflects the tax burden that the company needs to undertake, and the administrative burden in the process of paying taxes.
Southwest China's Chongqing Municipality set its economic growth for 2019 at 6 percent, as it makes plans to foster high-quality growth.Chongqing's GDP growth slowed to 6 percent in 2018 as traditional pillar industries like auto-making, electronics, engineering, pharmaceutical and energy sectors lost steam.Chongqing has turned to new industries such as big data, artificial intelligence, driverless vehicles, 5G network and smart hardware for new growth momentum, according to its government work report at the annual session of the municipal people's congress on Sunday.The sprawling metropolis along the Yangtze River was one of China's fastest growing cities. Its economy was on a 15-year streak of double-digit growth before 2017.Its GDP was 2.04 trillion yuan ($299 billion) in 2018, according to the municipal statistics bureau.Source: China Daily
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