The State Council released the Opinions on Further Improving the Utilization of Foreign Investment on November 7, 2019. The document put forward 20 policy measures in four aspects of deepening market openness to foreign investors, promoting investment, deepening reform to facilitate investment, and protecting the legitimate rights and interests of foreign investors.
China will move faster to further open up the financial industry, 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. In deepening reform to facilitate investment, China will lower the cost of cross-border capital use, make it easier for foreigners to work in China and optimize the approval process for the use of land for foreign-funded projects.