The State Council of China has announced a new plan to increase the attraction of foreign investment and improve the business environment in the country, through special tax and visa procedures.
China aims to attract more investment in key industries and encourage foreign companies to set up research and development centers in the country, according to a statement posted on the central government’s website.
The plan will help speed up work on foreign projects in the biopharmaceutical industry, and steadily increase pilot areas for some telecommunications services, the statement said. Qualified foreign companies will be urged to set up investment units and regional headquarters in China, she added.
The statement noted that China will make visa and residence permit applications more convenient for employees of foreign companies, while increasing financial and tax support for companies.
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