The government of Liaoning recently issued its "Implementation Opinions on Further Doing a Good Job in the Utilization of Foreign Capital". The document includes 15 opinions and measures on deepening opening-up, promoting foreign investment, creating a good environment for foreign investment and guaranteeing foreign investment.
Canceling or relaxing restrictions on foreign investment in transportation and other fields
The opinions propose that Liaoning should expand the opening-up of key areas for foreign investment, ensure that new energy vehicles produced by domestic and foreign automobile manufacturers enjoy the same market access treatment, and cancel or relax foreign investment access restrictions in transportation, business logistics and professional services.
Meanwhile, Liaoning will encourage and guide foreign investment to flow into the province’s high-tech industry and modern service industry.
Liaoning will promote the construction of international cooperation mechanisms such as the Singapore-Liaoning Economic and Trade Council, the Sino-German (Shenyang) High-end Equipment Manufacturing Industrial Park, and the Sino-Japanese (Dalian) Local Development Cooperation Demonstration Zone.
It will also implement measures to open the financial industry to the outside world in accordance with relevant national regulations.
Measures to be implemented will include relaxing the conditions for the establishment of foreign financial institutions; completely abolishing restrictions on the business scope of foreign financial institutions such as banks, securities companies and fund management companies in Liaoning; and expanding financial market cooperation.
They also include promoting foreign-funded financial institutions to invest in Liaoning’s banks, securities, insurance and other local corporate financial institutions.
Supporting construction of international cooperation industrial parks
Liaoning will support the expansion of the functions of comprehensive bonded zones, encouraging them to develop high-end industrial chains such as R&D, logistics, sales and remanufacturing based on processing trade.
To create an excellent environment for foreign investment, Liaoning will fully implement the "multi-certificate integration" registration system and "single window" work model, and promote the construction of "one-stop" service halls and information facilitation.
It will improve information service platforms and complaint handling mechanisms, implement rapid collaborative protection of intellectual property rights and joint credit reward and punishment mechanisms, and establish and improve diversified settlement mechanisms for intellectual property disputes.
Foreign-invested enterprises enjoy equal market financing support policies
The implementation opinions also state that Liaoning will strengthen the cooperation between foreign-invested enterprises and banking financial institutions.
They require banking financial institutions to guarantee the financing needs of key foreign-funded enterprises in accordance with the principle of marketization, which allows foreign-invested enterprises to enjoy the same support policies as private enterprises in market financing.
