China unveils more measures to draw foreign investment

BEIJING - The State Council, China's cabinet, on Friday (June 15) unveiled more foreign investor-friendly measures to further open up and promote high-quality economic development.

The country will widen market access, and revise and release negative lists on market access for foreign investment before July 1, according to a notice posted on the government website.

Financial-sector opening up will be further pushed. The mechanism regarding qualified overseas investors will be improved and foreign investors will be encouraged to participate in trading of crude oil and iron ore futures as well as underwriting local government bonds.

Foreign businesses will be encouraged to invest in central and western regions as well as sectors including agriculture, environmental protection, advanced manufacturing and services.

Interests of foreign investors will be better protected. The country will strengthen intellectual property right (IPR) protection, toughen the stance on counterfeiting and IPR infringements, and raise the ceiling of compensation for IPR infringement.

(Source: Xinhua)