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China Lifts Foreign Investment Bans in Chinese FTZ

China Lifts Foreign Investment Bans in Chinese FTZ

According to the recently published regulation, certain restrictions have been lifted in the free trade zones in China and, among others, there are major developments in the entertainment sector.

We list some below for your reference (from the Appendix  - Catalogue of Certain Provisions of the Relevant Administrative Regulations, Documents of the State Council and Departmental Rules Approved by the State Council that the State Council Decides to Temporarily Adjust within Pilot Free Trade Zones):

2. Regulations on the Administration of Printing Industry

Allow the establishment of enterprises with foreign investment engaged in the operations of printing other printed matters with the relevant administrative measures to be formulated by the competent department of press and publication under the State Council. 

5. Regulations on the Administration of Entertainment Places

Suspend the implementation of the related contents and allow the establishment of solely foreign-funded entertainment places which may provide services in pilot free trade zones, with the relevant administrative measures to be formulated by the competent culture department under the State Council. 

7. Regulations on Travel Agencies

Suspend the implementation of the related contents and allow qualified Sino-foreign equity travel agencies registered within pilot free trade zones to engage in providing outbound tourism (other than to Taiwan) business services to Chinese mainland residents, with the relevant administrative measures to be formulated by the competent travel department under the State Council.  

12. Catalogue for the Guidance of Foreign Investment Industries (Revised in 2017) 

Suspend the implementation of the related contents and allow foreign investors to engage in the design, manufacturing and maintenance of general aircraft at the level of 6 ton with no more than nine seats by means of wholly foreign investment; cancel the restriction on proportion of investment in the design and manufacturing of civil helicopters at the level of 3 ton or more 

15. Administrative Regulations of the People's Republic of China on Foreign-Invested Banks 

Suspend the implementation of the related contents and cancel the restriction, in terms of the number of years of business starting, for business institution of a foreign-invested bank to conduct any Renminbi business. 

16. Suspend the implementation of the related contents and cancel the restriction, in terms of the number of years of business starting, for business institution of a foreign-invested bank to conduct any Renminbi business

Suspend the implementation of the related contents and allow foreign investor and investors from Taiwan to establish solely-funded performance brokerage institutions to serve provinces and municipalities directly under the Central Government where pilot free trade zones have been set up, with the relevant administrative measures to be formulated by the competent culture department under the State Council.

The relevant government authorities will formulate implementation rules to guide the practice in the free trade zones.

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Tax

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