Further Deepen the Reformation on the Foreign Investment during the Epidemic Situation

Thursday, 12 March 2020 16:42

The National Development and Reform Commission (hereinafter referred to as “NDRC”) issued Fa Gai Wai Zi (2020) No. 343 as the notice on further deepening reform and improving foreign investment projects (hereinafter referred to as the “Notice") on 9th March 2020. Shanghai Dongjin finds the below as the main points.

  1. To actively help foreign invested projects and enterprises to return to work and resume production, guide and accurately assist projects in different stages, and promote collaborative return of foreign invested enterprises and industrial chains. All policies for supporting enterprises are the same applicable to foreign invested enterprises.
  2. The government will strengthen the tracking of the major foreign invested projects, actively promote investment, and bring qualified major foreign invested projects in the manufacturing industry and high-tech service industry into the scope of special coordination in accordance with the procedures. Projects in the advanced technology, medical treatment and epidemic prevention, key fields or in the central and western regions and the northeast are allowed to be moderately expanded.
  3. The government will coordinate internally and push the major foreign invested projects, support at both national and local levels, and establish and improve the special shift mechanism for major foreign invested projects at the local level in key provinces and cities.
  4. The government will comprehensively implement the management system of the negative list of foreign investment access, and further refine the relevant provisions of the regulations for the implementation of the Foreign Investment Law.
  5. The government will improve the convenience of filing recording of the foreign invested projects, and comprehensively implement online filing recording and processing.
  6. The government will simplify the procedures for approval of foreign invested projects. The application will be handled without meeting during the epidemic situation.
  7. The government will optimize the tax exemption confirmation process of imported equipment for encouraged foreign invested projects, cancel the reporting link below the provincial level, and speed up the handling during the epidemic in various ways.
  8. The government will protect the legitimate rights and interests of foreign invested projects, and strictly implement the provisions of the Foreign Investment Law on the equality of domestic and foreign investment, the prohibition of forced transfer of technology, and the protection of trade secrets.
  9. The government will strengthen visiting services for foreign invested enterprises, publicize and interpret policies, listen to opinions extensively and solve problems in coordination.
  10. The government will improve the ongoing and post-supervision of foreign invested projects, strengthen the coordination between the departments, and take measures to improve and avoid repeated inspection which increases the burden of enterprises.
  11. The government will further expand the scope of encouraging foreign investment and carry out the revision of the catalogue of encouraging foreign investment industries.

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Mr. Mike Chang

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