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No.
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Policy
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Department in charge
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I. Improving the Foreign Investment
Structure
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1
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The Catalogue for Guiding Foreign Investment in
Industries (China's key foreign investment policy
document) is to be updated to expand the areas open to foreign
investment and encourage foreign investment in the following
sectors:
- Hi-tech and modern services
- Renewable energy and environment protection
The updated Foreign Investment Catalogue is to restrict foreign
investment in the following sectors:
- Projects characterised by high pollution, high energy
consumption and resource dependency
- Projects of a low level and in which there is overcapacity
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National Development and Reform Commission
Ministry of Commerce
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2
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Foreign investment enterprises (FIEs) could be eligible to
benefit from China's policies and measures that are part of the
state industrial restructuring and revitalisation plan.
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National Development and Reform Commission
Ministry of Industry and Information Technology
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3
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A foreign-funded project that is encouraged by the state and
makes intensive use of land is to be given priority in land
distribution and the land price can be 70 per cent of the standard
minimum price for such land.
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Ministry of Land and Resources
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4
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FIEs in high and new technology are to be encouraged and their
accreditation process is to be improved.
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Ministry of Science and Technology
Ministry of Finance
State Administration of Taxation
Development and Reform Commission,
Ministry of Commerce
Ministry of Industry and Information Technology
other departments
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5
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Chinese and foreign enterprises are encouraged to strengthen
cooperation in research and development. FIEs and PRC domestic
enterprises and research institutions are to be supported to make
joint applications for state science and technology development and
innovative capacity building projects.
Joint applications for accreditation of the establishment of
national technological centres are to be supported.
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National Development and Reform Commission
Ministry of Science and Technology
Ministry of Finance
General Administration of Customs
State Administration of Taxation
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6
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Multinational corporations are encouraged to set up functional
departments in China, such as regional headquarters, research and
development centres, procurement centres, finance management
centres, settlement centres, and cost and profit accounting
centres.
Before 31 December 2010, the supplies for scientific and
technological development, imported by qualifying research and
development centres with foreign investment are to be exempt from
import duties, import VAT, and consumption tax.
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Ministry of Commerce
State Administration of Foreign Exchange
China Banking Regulatory Commission
National Development and Reform Commission
Ministry of Finance
State Administration for Industry and Commerce
Ministry of Finance
General Administration of Customs
State Administration of Taxation Bureau
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7
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Foreign investment in the service outsourcing industry is to be
supported.
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Ministry of Commerce
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II. Policies to encourage foreign investment to
China's central and western regions
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8
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The Catalogue of Priority Industries for Foreign Investment
in Central and Western China (a policy document encouraging
foreign investment in central and western China) is to be updated.
The changes will expand the list of labour intensive projects in
which foreign investment is encouraged.
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National Development and Reform Commission
Ministry of Commerce
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9
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Preferential tax policies for FIEs in western China are to be
continued.
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Ministry of Finance
National Development and Reform Commission
Ministry of Commerce
State Administration of Taxation
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10
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A range of policies are to be put in place to encourage FIEs to
transfer their operations to central and western China.
Banks with foreign investment are encouraged to establish branch
offices and launch business operations in central and western
China.
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National Development and Reform Commission
Ministry of Commerce
Ministry of Human Resources and Social Security
State Administration for Industry and Commerce
General Administration of Quality Supervision, Inspection and
Quarantine
State Administration of Taxation
State Administration of Foreign Exchange
China Banking Regulatory Commission
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11
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Regions in eastern China are encouraged to set up development
zones jointly with regions in central and western China.
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National Development and Reform Commission
Ministry of Commerce
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III. Diversifying the ways in which foreigners can
invest in China
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12
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Foreign investors are to be encouraged to buy into domestic
enterprises.
Strategic investment by domestic and foreign investors into
A-share listed companies is to be encouraged.
Measures are to be introduced to standardise how foreign
investors can participate in domestic securities investment and
corporate mergers and acquisitions.
Anti-monopoly review is to be implemented pursuant to law.
Efforts to establish a system for the security review of mergers
and acquisitions by foreign investors are to be accelerated.
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Ministry of Commerce
China Securities Regulatory Commission
National Development and Reform Commission
Ministry of Industry and Information Technology
State Administration for Industry and Commerce
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13
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Overseas listings are to be encouraged.
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China Securities Regulatory Commission
National Development and Reform Commission
Ministry of Commerce
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14
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Trial projects for the use of foreign investment to establish
companies that provide security for small and medium-sized
enterprises are to be accelerated.
Measures are to be adopted to encourage foreign investors to
form venture capital enterprises, actively use private equity
investment funds, and improve the exit mechanism.
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National Development and Reform Commission
Ministry of Commerce
State Administration for Industry and Commerce
China Securities Regulatory Commission
State Administration of Foreign Exchange
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15
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Eligible FIEs are to receive support to list or issue corporate
bonds and medium-term notes in China and financial institutions are
to be directed to provide more credit support to FIEs.
More overseas entities are to be permitted to issue RMB bonds
inside China.
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People's Bank of China
China Securities Regulatory Commission
China Banking Regulatory Commission
National Development and Reform Commission
Ministry of Commerce
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IV. Further reform of government administration of
foreign investment in China
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16
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Local governments are to be given expanded powers to approve FIE
projects. Unless there are other overriding regulations, local
governments will be able to approve the following projects:
- encouraged or permitted projects with a total investment of
less than US$300 million;
- projects for which the relevant ministries have delegated
approval authority to them; and
- FIEs in the service sector (other than financial and
telecommunications services).
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National Development and Reform Commission
Ministry of Commerce
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17
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Measures are to be introduced to make procedures for investment
approval simpler, quicker and more transparent.
Other measures to be adopted include the promotion of
standardised FIE contracts and online administrative licensing.
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Ministry of Commerce
National Development and Reform Commission
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V. Creation of a sound investment
environment
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18
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More "development zones" are required, to increase
institutional innovation and scientific and technological
development.
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National Development and Reform Commission
Ministry of Land and Resources
Ministry of Housing and Urban-Rural Development
Ministry of Science and Technology
Ministry of Commerce
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19
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Measures are to be introduced to improve foreign exchange
control of FIEs and to simplify the formalities for the settlement
of foreign currency capital of FIEs.
FIEs that are unable to pay their capital contribution on time
will have more chances to apply for an extension.
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State Administration of Foreign Exchange
State Administration for Industry and Commerce
Ministry of Commerce
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20
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Initiatives are to be adopted to promote foreign investment
including campaigns targeting key countries and regions, and key
industries and propaganda efforts highlighting China's foreign
investment policies.
China will also integrate its "inbound" and
"outbound" investment policies, and try to improve the
policy environment for cross-border investment.
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Ministry of Commerce
National Development and Reform Commission
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