China unveils more measures to draw foreign investment -- The State Council, China's cabinet, on June 15 unveiled more foreign investor-friendly measures to further open up and promote high-quality economic development. The country will widen market access, and revise and release negative lists on market access for foreign investment before July 1, according to a notice posted on the government website. Financial-sector opening up will be further pushed. The mechanism regarding qualified overseas investors will be improved and foreign investors will be encouraged to participate in trading of crude oil and iron ore futures as well as underwriting local government bonds. Foreign businesses will be encouraged to invest in central and western regions as well as sectors including agriculture, environmental protection, advanced manufacturing and services. Interests of foreign investors will be better protected.
China’s Yunnan to focus on dev. of five biomedical industry chains -- Southwest China's Yunnan Province has recently unveiled a plan to promote development of the biomedical industry and focus on the industry chains of modern Chinese medicine (ethnic drugs), biopharmaceuticals, chemical pharmaceuticals, medical devices, and specialty health products, the Xinhua-run cnstock.com reported on June 19. Under the plan, by 2020, the Province’s modern Chinese medicine industry is expected to achieve 61 billion yuan in main business income and its specialty health product industry will achieve 14 billion yuan in main business income. Meanwhile, Yunnan will vigorously cultivate relevant leading enterprises in the province and focus on talent training and introduction to promote development of the biomedical industry.
China set to release new negative list for foreign investment -- China has completed the revision of new negative list for market access of foreign investment and will make it public soon, China Securities Journal reported on June 19. Restrictions on energy, resources, infrastructure, transportation, commerce circulation, and professional services will be removed or loosened in the upcoming list, according to the report. The country has already announced measures to further liberalize the finance and automobile sectors. The new negative list will have two sections, one for nationwide implementation and one for pilot free trade zones, it reported.
S. China’s Hainan to release plan for horse racing dev. soon -- South China's Hainan Province is expected to release a plan for the development of the horse racing soon, the Xinhua-run cnstock.com reported on June 19. The Department of Culture, Radio, Television, Publication and Sports of Hainan Province is currently in discussions with relevant academic research institutions and professional organizations to study and formulate the plan as soon as possible, which will provide scientific guidance for development of the horse racing in the Province, according to the report. After the plan is finalized, the Department will, according to the plan, build racecourses and training grounds, establish horse-ridings clubs, and organize various kinds of sports horse races in an orderly manner.
China's Gansu to establish Silk Road information hub by 2020 -- Northwest China's Gansu Province has recently unveiled a plan to focus on the Belt and Road construction and build itself into an information hub along the Belt and Road routes. Under the plan, by 2019, a basic framework of the Silk Road information hub will be initially formed. By 2020, the Silk Road information hub will be initially established. By 2025, a digital economic highland under the Belt and Road Initiative will be formed in Gansu and the Silk Road information hub will serve as a communication hub for Central and Western Asia, Central and Eastern Europe and Mongolia. Gansu will compile and formulate a plan before the end of 2018for building itself into an onshore international data exchange center.
CAAC to fully support construction of Zhengzhou int’l air cago hub -- The Civil Aviation Administration of China (CAAC) will fully support the construction of the Zhengzhou international air cargo hub and approve the strategic plan for the air cargo hub as soon as possible, said Feng Zhenglin, head of CAAC. The strategic plan for the Zhengzhou international air cargo hub is developed jointly by the CAAC and Henan Province. It is the first cargo hub strategic plan compiled by the CAAC for a specific airport. Feng pointed out that at present, Zhengzhou Airport has already had the basic conditions for the construction of an international air cargo hub. It is suggested that the Henan Provincial Government actively promote the construction of Zhengzhou international air cargo hub in accordance with the rules and characteristics of air cargo hub construction and advance the development of the cargo hub with high quality.
China to unveil 3yr action plan for environment protection soon -- China is set to release a three-year action plan soon to enhance the air quality, said Zhao Yingmin, vice minister of Ecology and Environment on June 20. Under the action plan, China will especially strengthen prevention and control of pollution factor PM2.5, focus on key areas such as Beijing-Tianjin-Hebei, the Yangtze River Delta and the Fenhe-Weihe Plain, exert more efforts in environmental protection in autumn and winter, and pay more attention to the pollution control in industries such as steel, thermal power generation, and building materials, and the fields including bulk coal, diesel trucks, dust control and other areas. Through the above efforts, China strives to further significantly reduce the PM2.5 concentration, decrease the days of heavy pollution, and obviously improve the quality of the atmospheric environment, according to the plan.
China’s Chengdu to build 30 overseas workstations along Belt & Road by 2022 -- Southwest China’s Chengdu is expected to build 30 overseas workstations in countries along the Belt and Road routes to carry out more than 100 major international cooperation projects each year, according to an action plan recently released by Chengdu authorities. Under the action plan, by 2022, Chengdu will speed up efforts to build itself into an international gateway hub, build up an inland open economic highland, and strive to transform into an international cultural city and an important city along the Belt and Road. By 2022, Chengdu will set up 22 foreign exchange centers in order to form all-around, multi-field, high-level platforms for foreign exchanges and international cooperation. As for the construction of the international gateway hub, the municipal government plans to increase capacity and efficiency of Chengdu Shuangliu International Airport, as well as Chengdu Tianfu International Airport and Jintang Airport. By 2020, the airports are expected to see an annual passenger throughput of 100 million person-times and an annual cargo and mail throughput of 2.5 million metric tons.
China’s Guangzhou formulates policies to expand financial opening -- South China's Guangzhou has drafted ten policy measures to expand financial opening to the outside world and improve the financial internationalization, according to Qiu Yitong, director of Bureau of Financial Affairs of Guangzhou Municipality, on June 21. These measures include relaxing restrictions on foreign investment access, lowering the access threshold for Hong Kong-funded and Macao-funded financial institutions, supporting foreign financial institutions to participate deeply in Guangzhou's economic and social development, and strengthening the service for the foreign financial institutions, etc. Data shows that from January to May this year, the balance of deposits and loans in RMB and foreign currencies in Guangzhou was 8.78 trillion yuan, an increase of 10.9 percent year on year, ranking first among the domestic five largest cities including Beijing, Shanghai, Guangzhou, Shenzhen and Tianjin.
China's Hainan welcomes foreign financial firms' participation in building FTZ (port) -- South China's Hainan Province welcomes foreign financial institutions to advance their layout and actively participate in the construction of Hainan free trade zone (port), according to Shen Xiaoming, governor of the provincial government. Construction of the free trade port involves the free flow of goods, capital and personnel, which is inseparable from the support of the financial industry, said Shen. Shen pointed out that Hainan will focus on the development of key industries such as tourism, high-tech industries and modern service industries, and develop an open economic system. He hoped that foreign financial institutions will cooperate with Chinese Internet companies and use Hainan as a pivot to promote the development of mobile payment and consumer finance businesses worldwide, especially in Southeast Asia.
A single purchase
