Shandong poised to create world-class business environment

(| Updated : 2023-10-25

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Employees work on the smart production line of a foreign-funded electronics enterprise in Rongcheng, Shandong province. LI XINJUN/FOR CHINA DAILY

The Shandong provincial government recently issued 23 specific measures in six areas to further optimize the foreign investment environment in Shandong and better attract and utilize foreign capital, local media reported.

To improve the quality of foreign investment utilization, the province will increase efforts to attract foreign investment in key areas and support multinational companies and international scientific organizations in establishing international technology transfer service institutions in Shandong.

Efforts will also be made to encourage eligible foreign-funded research and development institutions to apply for provincial-level scientific and technological programs.

It will further expand channels to attract foreign investment, encourage eligible foreign investors to establish investment companies and regional headquarters in Shandong, and support each city in formulating relevant policies.

The province will also improve the mechanism for promoting foreign investment projects. It will establish a coordination mechanism for stabilizing foreign trade and investment in Shandong and increase the utilization of foreign investment in key industries and areas.

In addition, it will strengthen guarantees for foreign-invested enterprises participating in government procurement activities in accordance with the law, incentivize foreign-invested enterprises to participate equally in standardization activities, strictly implement the fair competition review system, and ensure that foreign-invested enterprises enjoy equal access to support policies.

It will also further optimize policies on residence permits for foreign employees of foreign-invested enterprises, coordinate and optimize law enforcement inspections of foreign-invested enterprises, and improve services and support guarantees for foreign-invested enterprises.