Recently, Shandong Provincial People’s Government issued the Shandong’s Measures on Further Fulfilling the Work of Using Foreign Capital (hereinafter referred to as “The Measures”), in order to promote the healthy development of foreign-invested enterprises with clearer policies and measures, and to create a new height for opening up.

The Measures consist of five parts, namely, promoting high-level opening-up, increasing investment promotion, improving investment services quality, strengthening investment protection, and improving the organizational security system, including 20 specific measures in total.

According to the Measures, Shandong will fully implement the pre-establishment national treatment and negative list management system for foreign investment, and all restrictions that are not included in the negative list will be canceled. It will support the establishment of wholly foreign-owned enterprises in the manufacturing of special-purpose vehicles, new energy vehicles and commercial vehicles.

In regard to high-level opening-up, Shandong is to expand foreign investment access and field, support the pilot free trade zone, accelerate the building of platforms for opening-up, and deepening key regional cooperation.

As for investment promotion, Shandong is to forge international brands for investment attraction events, innovate investment promotion methods, further allocate factors of production based on projects, increase financial support, and ensure investment activities abroad.

In regard to investment services, Shandong is to improve investment facilitation measures, support the innovation and entrepreneurship of high-end foreign talents, increase financial support, reduce tax burden for enterprises, and improve life supporting services.

Besides, Shandong is also to protect the legal rights and interests of foreign-invested enterprises, optimize administrative supervision methods, strengthen the protection of intellectual property rights, improve the coordination service working mechanism, and strengthen performance appraisal management measures.