Friday November 23 2018
News Source: Global Disclosures
Focus: Foreign Investment
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
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