New guideline lays groundwork for improved business environment

China issued new guidelines to attract more global capital and further optimize the environment for multinational corporations, according to a policy document released by the State Council on Sunday.

The country will support foreign investors in establishing research and development centers within its market, collaborating with domestic companies on technology research and development and industrial application, as well as encourage overseas businesses and their affiliated innovation centers to undertake major scientific research projects.

The State Council, the country's Cabinet, has declared its commitment to ensuring foreign-invested enterprises fully engage in government procurement activities in strict adherence to the law. China is poised to promptly introduce measures to provide enhanced clarity regarding the precise criteria for "manufactured in China".

To ensure national treatment for foreign-invested enterprises, the Chinese government will seek innovative cooperative procurement methods and support them to innovate and develop globally leading products within its market, as well as accelerate the revision of China's Government Procurement Law.

The government will also offer convenience to foreign executives, technical personnel and their families in terms of entry, exit and residence.