BEIJING, Sept. 10 (Xinhua) -- South China's Guangdong Province has recently unveiled a revised document to further expand opening-up and attract foreign investment.
It will further expand the market access fields and support the establishment of wholly foreign-owned enterprises in the following areas, including special vehicle manufacturing, new energy vehicle manufacturing, ship design, manufacturing and repair, etc.
The province will cancel restrictions on the foreign shareholding ratio of the Chinese-funded banks and financial asset management companies and support the foreign banks to set up branches and subsidiary banks in Guangdong.
Meanwhile, it will support the foreign investors to set up joint venture securities companies, securities investment fund management companies, futures companies, life insurance companies, with the foreign shares ratio not exceeding 51 percent.
It will also support the foreigners working in Guangdong to open securities accounts to trade A-shares.
Guangdong will also offer fiscal awards to the new projects invested by the foreign investors, especially those Fortune Global 500 companies and the global leading enterprises, in fields such as new generation information technology, intelligent equipment, biomedical, new energy and new materials. It will also ensure the land use of the foreign investment projects
In addition, Guangdong will also increase financial support for the foreign investment. It will support the Fortune Global 500 companies and global industry leading enterprises to invest here through the provincial industrial development fund and in the form of equity investment.
The province will also strengthen the intellectual property protection and encourage the foreign-invested enterprises to apply for and implement patents in China. (Edited by Hu Pingchao, hupingchao@xinhua.org)
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