China is set to intensify its efforts to attract and harness foreign investment, with a specific focus on removing market access restrictions in the manufacturing industry and introducing pilot measures to expand the opening-up of the service sector.
Chinese authorities released a document Friday introducing new measures to encourage overseas institutions to invest in China's domestic sci-tech enterprises.
Zhejiang will continue to ramp up efforts to enhance its business environment in order to attract more foreign investment and encourage privately owned businesses amid measures to promote local high-quality development, authorities said.
China will continue working toward the swift implementation and effectiveness of the policy package aimed at enhancing the investment climate for foreign businesses and attracting more foreign investment, the Ministry of Commerce said on Wednesday.
Wenzhou, a city in Zhejiang province, recently secured approval for 44 significant science and technology projects aligning with Zhejiang's major initiatives, with 17 being led by local enterprises.
In a strategic move towards comprehensive urban revitalization, Wenzhou is positioning itself as a regional center in the future, drawing attention from prestigious educational institutions and driving innovation.
Efforts by the State Administration of Foreign Exchange (SAFE) to further facilitate cross-border investment and financing for technology-focused small and medium-sized enterprises and advance the opening up of the capital account will improve the competitiveness of the Chinese financial industry and aid in the country's high-quality economic growth, experts said.
In a bid to bolster its business environment, Wenzhou is pioneering a novel approach: empowering small and medium-sized private enterprises by adopting private services and leveraging social capital.
