September 23, 2019

26 new principles unveiled to boost foreign investment

The Shanghai Municipal Government last week released a new batch of 26 principles to promote foreign investment.

The principles mainly cover three aspects of further opening up, attracting more foreign investment and protecting foreign investors’ legal rights.

Foreign capital will be given the same status as Chinese one while negative list management will be set up, too, to boost the free and convenient in Lingang Area.

Foreign firms are encouraged to list on the main board, the sci-tech innovation board, SME board and NEEQ to expand their financing channels. Convenient access procedures, including entry & exit and work permits, will be offered to foreign talent.

The intellectual property protection mechanism will be completed for quicker response and higher efficiency in settling disputes.

The Lingang Area of the Shanghai Free Trade Zone has been planned as a window for fully opening up the telecom, securities, insurance, sci-tech service, education and other sectors.

The rules also urge relevant authorities of the Shanghai Pilot FTZ, the Shanghai Municipal Commission of Economy and Information Technology and district governments to do their part to support the work.

In general, a network consisting of foreign investment projects and promotion data will be built while the China International Import Expo will be utilized to attract senior trade groups and delegations for investment during the period.