ANNOUNCEMENT 01 Dec 2017
December 1, 2017 - China's southern Guangdong province announced 10 new policies intended to encourage the amount of FDI in the region.
NUMBER OF INTERVENTIONS
Guangdong provincial government, December 1, 2017. (粤府〔2017〕125号 广东省人民政府关于印发广东省进一步扩大对外开放积极利用外资若干政策措施的通知)
On the 1st of December 2017, the regional government in China's southern manufacturing heartland of Guangdong province released an announcement containing 10 measures designed to boost foreign investment in the region.
Firstly, the plan revealed mechanisms to relax ownership limits and/or operation scope in the following sectors:
Furthermore to the above, there were three policies released in the Guangdong government's December 2017 announcement that aimed to reduce various areas of controls applying to the actions of foreign investors in the region, namely:
Adjust the conditions for land distribution, particularly pushing favourable land use policies for international Fortune 500 companies;
Optimise the mechanisms surrounding foreign investment in flagship industrial parks;
Better the use of foreign investment guarantee mechanisms by increasing measures to promote foreign investment opportunities and ensuring that complaints regarding the FDI process from foreign firms are dealth with properly.
In addition to the above, the Guangdong authorities also announced increased financial support for foreign-invested firms in the following ways:
Finally, the Guangdong government announced in its 10-pronged policy release that it would be implementing a system called the 'Guangdong Priority Card' - a type of document given to certain high-talent foriegn nationals that will function as a proof of identity and right to settle in the province.
This makes access to public services, housing, healthcare etc. easier for both the card holders and their families - giving such individuals the 'equal treatment as compared to citizens of China'.
The individual cards are valid for five years apiece, subject to renewal approval.