Aerial photo taken on Sept. 17, 2020 shows the Houhai area in Nanshan District of Shenzhen, south China's Guangdong Province. (Xinhua/Chen Yehua)
BEIJING, Sept. 9 (Xinhua) -- The southern Chinese metropolis of Shenzhen in Guangdong Province has recently rolled out regulations on foreign investment, which will come into effect on November 1, 2022, according to the official website of the city’s government.
It stipulates that foreign investors can get equal access to industries outside China’s foreign investment negative list, forbidding any restrictions in this regard. The local authority would review the application by foreign investors to access the fields outside the list in accordance with laws and regulations.
Foreign investors will be encouraged to invest in the city’s key sectors, such as advanced manufacturing, emerging industries, energy conservation and environmental protection industries, said the regulations.
Experts believe that the regulations have specified foreign investment access, improved the facilitation of investment by foreign-funded businesses, and protected the lawful rights and interests of foreign investors according to local conditions. Its introduction represents an important move of Shenzhen to build a transparent, stable, predictable business environment for foreign investors.
Shenzhen has become increasingly attractive to foreign investors, thanks to its favorable business environment. Its actual use of foreign capital exceeded 2.1 billion U.S. dollars in the first quarter of this year, surging 32 percent year on year, according to the city’s commerce bureau.
Official data showed that Shenzhen is now home to firms from over 160 countries and regions, including nearly 300 Global Fortune 500 enterprises, and has approved over 100,000 direct foreign investment projects by the end of May.
(By Li Shimeng with Xinhua Silk Road, lishimeng@xinhua.org)
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