China releases new regulations on promotion of foreign capital

(ECNS) -- China released new regulations on foreign capital Tuesday to facilitate entry and exit for multinational companies' executives, technicians and their families, under the prevention and control of COVID-19.

Several departments, including the National Development and Reform Commission and the Ministry of Commerce, have issued a series of measures requiring local governments to facilitate foreigners coming to China based on local conditions.

The new regulations require further implementation of a negative list of foreign investment access and foreign investment law. As for areas outside the negative list, domestic and foreign capital will be under the management of consistent principles.

Foreign-invested enterprises will share equal support policies for industrial and regional development in China according to laws and regulations, making sure they can be fairly treated regarding acquisitions, qualification licensing, business operations, intellectual property protection, standard-setting, bidding and tendering, and government procurement.

Guaranteeing smooth logistics is also included in these regulations to ensure that products and materials of foreign-funded enterprises can enter China.

In addition, China welcomes foreign capital in research and development, modern logistics, new energy, green and low carbon technologies, and encourages foreign capital to set up a research center in China.

Official data shows that the actual use of foreign capital has reached 892.74 billion yuan (about $124.5 billion) in the first eight months of 2022.