Guizhou enhances foreign capital utilization

The Guizhou provincial government recently released five documents to enhance the utilization of foreign capital, which is significant to furthering the opening and the construction of the province's inland open economy pilot zone.

The documents provide regulations and instructions for the future work of promoting high-quality economic development, attraction of foreign invested projects, evaluation of international cooperation parks, regional headquarters, and functional institutions, as well as the handling of complaints received from foreign invested companies.

The documents proposed 24 measures to relax market access restrictions, implement reduction of taxes and fees, establish platforms for foreign funds utilization, improve the systems of preferential policies, optimize the environment for foreign investment, and strength the implementation of the measures.

By involving foreign capital in its economic development, Guizhou has formed industry clusters, expanded industrial chains, promoted the development of pillar and advantaged industries, as well as boosted industrial restructuring and optimizing.