South China's Hainan to delegate management power for foreign investment projects: report

Source:Global Times Published: 2018/9/4 20:53:41

Hainan drafts rules to attract foreign investors

The government of South China's Hainan Province is strengthening efforts to delegate approval and record filing rights for foreign investment projects in a bid to further attract overseas capital, domestic news site reported on Tuesday.

Foreign investment projects that were supposed to be approved by the provincial government will be handled at lower-level governments such as city, county and the Yangpu Economic Development Zone, the report said, citing local authorities.

And the right for record-filing of foreign investment projects will also be delegated to those lower-level departments. Such efforts will be conducive to creating a sound business environment and building the free trade zone in the island province, according to the report.

The province will carry out high-level investment liberalization and facilitation policies and fully implement pre-establishment national treatment and negative list management system for foreign capital, the report noted.

Hainan will also further open up medical treatment, education and internet industries,it said.

Newspaper headline: Hainan drafts rules to attract foreign investors

Posted in: ECONOMY

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