(Edited from Xinhua, Beijing) The State Council, China’s Cabinet, released Tuesday new regulations on overseas investment, promising good business conditions but restricting funds to environmentally unsound projects.

According to the new regulations, China still welcomes foreign investment in high-tech industries, services sectors, energy-saving and environmental protection, but polluting and energy-gorging or projects in industries running at overcapacity are not wanted.

(Edited from Xinhua, Beijing) The State Council, China’s Cabinet, released Tuesday new regulations on overseas investment, promising good business conditions but restricting funds to environmentally unsound projects.

According to the new regulations, China still welcomes foreign investment in high-tech industries, services sectors, energy-saving and environmental protection, but polluting and energy-gorging or projects in industries running at overcapacity are not wanted.

Importing items for scientific and technological development by qualified foreign-funded R&D centers will be exempt from tariffs, according to the regulations.

Foreign-funded enterprises are also encouraged to increase their investment in China’s central and western regions, particularly environment friendly and labor-intensive companies.

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