China will attract foreign capital by increasing openness – Dainik Savera Times

China’s State Council recently laid out a plan to attract and utilize foreign capital by enhancing high-level opening-up. It says that foreign investment is an important force for building Chinese-style modernization and enhancing the common development of China and the world economy. The full, precise and comprehensive implementation of the new development concept must create a market-oriented, legal and international first-class business environment, so as to strengthen the confidence of foreign investors to develop in China.

The plan states that China will improve the level of liberalization of foreign investment by expanding market entry. China will adopt liberal policy to increase the attraction of foreign investment. China will provide good service to foreign enterprises by improving the environment of fair competition. China will increase cooperation between domestic and foreign enterprises by streamlining the flow of innovation elements. With this, China will improve domestic regulations to better align them with high-standard international economic and trade rules.

The plan also said that China’s various regions should give priority to creating a better business environment and improving service, so that the measures can be concretely implemented.

(Credits- China Media Group, Beijing)