China’s State Council releases guidelines to boost foreign investment.

China’s State Council Issues Guidelines to Attract Foreign Investment

By Andrew Hayley⁤ and Ethan Wang

BEIJING (Reuters) – China’s State‍ Council has released guidelines aimed at optimizing the country’s foreign investment⁤ environment and attracting more foreign capital.

The‍ State Council, in a document containing 24 guidelines, emphasizes the ⁢need to protect the rights and interests of foreign investors,⁢ including stronger enforcement of intellectual property rights.

The guidelines also introduce fiscal support and tax incentives for foreign-invested enterprises, such as temporary exemption of withholding income tax for reinvestment of profits into ‌China.

Furthermore, the State Council plans to explore a “convenient and secure management mechanism” for cross-border data flows, addressing concerns over data⁣ security amid tensions with international enterprises.

As China’s economic recovery from the COVID pandemic slows, the country aims to attract foreign capital. However, it has faced ‍challenges in attracting foreign enterprises and investors due to political risks and deteriorating relations with Western ​countries.

(Reporting by Andrew Hayley and Ethan Wang; Editing by Andrew Heavens and Bernadette Baum)

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