Measures to Stabilize Foreign Investor during Epidemic Period

Thursday, 20 February 2020 11:20

The Ministry of Commerce issued 20 measures to improve the government service for foreign companies and stimulate domestic consumption to limit the impact of the coronavirus outbreak on Chinese economy. Shanghai Dongjin finds the below as the main points related to the foreign invested companies in China.

The government will support the work resumption in order for export-oriented firms and foreign invested companies, goods distributors, retailers and e-commerce enterprises.

The government will guide the company to apply for the import and export license in the paperless way. Before the outbreak was lifted, the service outsourcing contract should be audited online according to the data provided by the enterprises online. The government will also accelerate the paperless management of foreign investment record (APPROVAL) to the overseas and realize the whole process of online application.

The government will support the trade promotion commission, chamber of commerce to issue force majeure proof for epidemic reason to foreign trade companies or overseas companies.

The government will closely track the progress of large foreign investment projects under discussion, and enhance investment cooperation with different parties. The circular required local governments to provide timely service to large foreign-invested projects under construction, optimize online government services, and coordinate relevant government branches and public utilities to ensure their supplies to foreign companies in terms of land use, logistics, labor, and water and power usage.

The government will continuously improve the foreign investment information reporting online system, make full use of information technology, strengthen research, judgment and early warning, and keep abreast of the impact of the epidemic on foreign invested enterprises in various industries and fields.

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Mr. Mike Chang

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