Friday November 23 2018

News Source: Global Disclosures

Focus: Foreign Investment

Type: General

Country: China

The Chinese government has rolled out a series of 53 new measures to support pilot free trade zones and deepen reform and innovation, according to a circular released on 23 November.

These aim to improve the investment environment, trade facilitation, financial innovation and the human resources sector within the FTZs.

The new measures include:

  • The ratio requirement for foreign technical personnel in foreign-invested construction and engineering design enterprises, as well as restrictions on recruitment agencies, to be relaxed;
  • land use for pilot FTZs in some provinces and municipalities to be given priority in the overall layout;
  • Qualified pilot zones will be encouraged to conduct pilot programs on parallel import automobile businesses; and
  • Efforts to be encouraged to simplify administrative approval procedures for insurance branches, and establish and improve the information sharing system about enterprises’ demand for insurance in pilot FTZs

Click on the above link for more information.