March 2017-Chinese Government Authorized Local Governments To Formulate And Issue Preferential Policies On Business And Investment

In early January 2017, the State Council announced “Circular of State Council on Several Measures concerning the Expansion of Opening-up and the Active Use of Foreign Capital”, so-called “ Several Measures” and effected on 12 January 2017. The local governments are allowed to, within the scope of their statutory authority and under the approval from the Central Government, establish and distribute preferential policies on business and investment attraction, support those projects that will make big contributions to employment, economic development, and technological innovation, reduce investment and opening costs of enterprises.