Jiangsu accelerates opening up with 26 measures
2019-01-11 15:48:00

The CPC Jiangsu Provincial Committee and Jiangsu People’s Government released “Opinions on Policies and Measures to Promote the High-quality Development of Open-up Economy" at the Jiangsu Opening Up Conference on January 3.

On January 10, the provincial government held a press conference and invited officials from commerce and other departments to further explain the Opinions.

The new directive is divided into 26 articles and in 7 parts.

To further open up, foreign enterprises will be evaluated with a “negative” list approach. Investment areas not covered by the list means equal treatment to foreign and domestic fund. Jiangsu will review and end restrictions on foreign investment other than those mentioned in the negative list.

Jiangsu will also promote the construction of the “Belt and Road” hubs, increase support for the construction of overseas industrial parks, promote the healthy development of China-Europe freight trains.

Jiangsu will establish an international freight train company at the provincial-level and further integrate and optimize the freight train lines. Jiangsu will also support enterprises to develop an overseas financial holding platform in Hong Kong.

The province will form and increase the momentum of development, support the construction of the global industrial science and technology innovation centers in Jiangsu through cooperation with foreign investors, and also introduce incentive policies for high-level talent.

Foreign-funded enterprises with good credit, aligned industrial growth will be allowed to delay the payment of taxes and fees within a certain period of time when they face temporary difficulties. Foreign-invested enterprises that make outstanding contributions will be rewarded, and their executives can pay less taxes.

Source:jschina.com.cn Editor:Dylan