On 7th of Nov, 2019, the State Council released the Opinions on Further Improving the Utilization of Foreign Investment, which put forward 20 measures to utilize foreign investment further. The measures could be divided into four aspects namely, deepening market openness to foreign investors, promoting investment, deepening reform to facilitate investment and protecting the legitimate rights and interests of foreign investors.
Specific provision includes:
1. Move faster to further open up the financial industry.
 China will eliminate all restrictions on the scope of business for foreign banks, securities companies and fund management companies, and remove requirements on total assets for the establishment of foreign-funded banks.
2. Deepen reform to facilitate investment.
China will lower the cost of cross-border capital use, and optimize the approval process for the use of land for foreign-funded projects.
3. Continue to reduce the negative list of foreign investment access in the national and free trade pilot zones, and comprehensively clean up and remove restrictions that are not included in the negative list
4. Optimize foreign investment policies in the automotive sector.
5. Make it easier for foreigners to work in China.
For innovative entrepreneurial talent and talent with professional skills that are urgently needed in China, restrictions over age, education and work experience etc. can be appropriately relaxed. Foreign students with an intention to innovate and start a business may apply for a 2-years residence permit in the private affairs category with the diploma of Chinese university. For foreigners who have applied for a work-type residence permit twice consecutively, a 5-years work-type residence permit can be issued in accordance with the provisions upon the third application. The government will optimize the process of applying for work permits for foreigners to work in China, improve the information sharing mechanism among governmental departments, and explore the possibility of integration of work permits and residence permits.
6. Guarantee equal participation in government procurement in accordance with the law.
7. Improve the protection mechanism of intellectual property rights of e-commerce, and improve the rules for notification of patent infringement determination and removal of the infringing list on e-commerce platforms.
8. Optimize the requirements of the form of evidence in intellectual property cases involving foreign-invested enterprises, apply the presumption of fact and reasonably reduce the litigation burden of such enterprises. Strengthen the protection of trade secrets, reasonably allocate the burden of proof, and strengthen civil and criminal protection of IPR.
Useful link:
MINISTRY OF COMMERCE OF THE PEOPLE’S REPUBLIC OF CHINA
