More Preferential Treatment to Overseas Investors

The State Administration for Industry and Commerce has raised issues relating to nine aspects regarding better use of foreign funds and control over foreign-invested enterprises, urging all local authorities and all departments to strictly follow the provisions on foreign investment and not to willfully increase preferential terms as follows:

1. Persist in the principle of equality and mutual benefit, and strictly follow the provisions of the state policies regarding foreign investment. The projects in restricted industries and trades and projects on quota that are subject to examination and approval by the central authorities must be submitted to the central authorities for examination and approval.
   
2. Chinese investors are not allowed to offer unreasonable preferential terms, including guarantees for foreign shareholders' loans and promises for returns on the investment.
   
3. Combine the quantity of foreign investment with quality. Do not give quotas to the local authorities level by level nor vie with each other for higher quotas.
   
4. Persist in the principle of using the market in exchange for technology. For the projects that truly import international advanced technologies and raw and processed materials in short supply at home, the market can be opened and their products can be allowed to be sold in the domestic market.
   
5. Give full play to local characteristics in absorbing foreign investments. Avoid establishing similar projects and producing similar products. The central and western regions should give play to their resource advantages, labor advantages and advantages of existing industrial bases, scientific and technical strength, and the fact that they border on neighboring countries so as to blaze a trail with local characteristics.
   
6. The coastal provinces and centrally administrated municipalities should give more consideration to "upgrading" their industries and products, and focus their attention on developing capital-intensive and technology-intensive export enterprises that produce high-added value products so as to become financial centers, commercial centers and high-tech centers.
   
7. Strengthen the supervision and control over foreign-invested enterprises. The tax, auditing and exchange control administrations should exercise effective supervision over enterprises with foreign investment. Acts that break rules and laws should be strictly investigated and dealt with.
   
8. Handle the relationship between foreign famous brands and domestic famous brands well. Avoid discarding trade marks that have been used for many years as soon as some enterprises set up joint ventures, because this will affect the entry of Chinese products into the international market.
   
9. Strengthen control over the assessment of state-owned properties. China is developing very rapidly, which not only provides lots of opportunities for the development of the country itself, but also for far-sighted business people with courage all around the world, and for the development of the world as a whole.

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