MNI BRIEF: China Unveils Plan To Attract Foreign Investors
MNI (BEIJING) - China will facilitate mergers and acquisitions involving foreign investors and strengthen efforts to attract investment in key areas, according to a plan approved by the State Council on Wednesday.
Chinese authorities will optimise rules and procedures, and lower barriers for cross-border share swaps, while foreign-invested companies will be allowed to use Chinese domestic loans for equity investments, the document said, noting the country encourages foreign investment in service sectors such as elderly care services, culture and tourism, sports, healthcare, vocational education and finance.
It will expand pilot programs for opening up sectors such as telecommunications, healthcare, and education, and promote orderly opening up in the biopharmaceutical field, it stated. Foreign investment will be promoted for high-quality manufacturing, with support for investment in central, western, and northeastern China, it said. (See MNI: China To Ensure 5% GDP Amid Export Uncertainty: CASS's Yu)