Beijing releases new measures to woo foreign talent -- Beijing has released new measures to attract more foreign talent to the capital, especially to its high-tech hub Zhongguancun Science Park, according to the Beijing government press office on February 27. Of the 20 new measures, five measures aim to facilitate the entry and exit of foreign talent in the capital, including eased requirements for permanent residency permits. Six measures were targeted to lift controls over recruitment and use of international talent, and four measures focused on building a sound start-up and innovation environment for foreign workers.
China to target irregular enterprises in nationwide pollution control -- China will target irregular enterprises as part of nationwide pollution control as such businesses have been found to be major polluters, a senior official said on February 27. A pollution control campaign targeting enterprises that are not in line with local land and industrial planning, and violate environment protection rules or operation regulations will be spread to more areas of the country as it has proven effective in 28 pollution-heavy cities, according to Liu Bingjiang, an official with the Ministry of Environmental Protection. The ministry launched a pollution control campaign targeting about 62,000 irregular enterprises in the Beijing-Tianjin-Hebei region and surrounding cities last year, whose efforts were estimated to have contributed to about 30 percent of the fall in PM 2.5 density in the region.
Public security ministry urges crackdown on environmental crimes -- The Ministry of Public Security has called for investigations into 45 pollution cases in provinces to crack down on pollution in the Yangtze River. Vice minister Huang Ming stressed "zero-tolerance" to pollution in the river as well as strong efforts to solve the cases, at a meeting attended by officials from the office of the leading group for Yangtze River Economic Belt development, the Ministry of Environmental Protection and the Ministry of Transport.
China central bank abolishes five regulations -- China's central bank on February 26 announced a decision to abolish five regulations in the latest step to cut red tape for a better business environment. The annulled items include management of foreign exchange registration of foreign-invested businesses, management of foreign currency banknote transactions of domestic institutions, and settlement of domestic letters of credit. The revisions have been taken in accordance with government requirements to reform administrative approvals and delegate power to lower levels, said the People's Bank of China.
China approves three demonstration zones for sustainable development -- The State Council, China's cabinet, has approved Shenzhen, Taiyuan and Guilin to build innovation demonstration zones to implement the 2030 Agenda for Sustainable Development. China aims to open around 10 national development zones to seek solutions to sustainable growth, according to a State Council plan released in December 2016.
China to continue proactive fiscal policy in 2018 -- China will continue proactive fiscal policy and prudent monetary policy in 2018, according to a statement released after a meeting of the Political Bureau of the Communist Party of China (CPC) Central Committee on February 24. China will make further progress in supply-side structural reform, accelerate the building of a country of innovators, deepen reform in fundamental key areas, and take tough steps to forestall and defuse major risks, carry out targeted poverty alleviation, and prevent and control pollution, said the statement.
China to prolong registration-based stock listing system -- China plans to prolong a registration-based stock listing system for another two years to Feb. 29, 2020. The draft decision was submitted to a session of the Standing Committee of the National People's Congress (NPC), the top legislature, for review on February 23. The Standing Committee of the NPC authorized the State Council on Dec. 27, 2015 to adjust rules, based on the securities law, to allow the stock listing system to be changed from approval-based to registration-based. The changes will expire Feb. 28, 2018. Under the current IPO system, new shares are subject to approval from the China Securities Regulatory Commission, the top securities regulator
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