The Regulations on Promoting and Protecting Foreign Investment in Jiangsu Province will come into effect on January 1, 2024, JSBC has the story.
The Regulations provide targeted institutional designs in improving investment promotion mechanisms, strengthening the protection of foreign investment rights and interests, and optimizing investment services.
According to the Regulations, Jiangsu will take measures to encourage multinational corporations to establish regional headquarters and functional institutions, encourage and guide foreign participation in the construction of manufacturing clusters and advantageous industrial chains, support foreign investment in establishing and developing research and development centers in Jiangsu, support foreign enterprises to reinvest their profits within China, and promote the improvement of quality and efficiency of foreign investment.
According to the Regulations, foreign investment shall be managed in accordance with the principle of consistency between domestic and foreign investment after admission. Jiangsu will ensure that foreign-invested enterprises enjoy equal treatment in terms of factor acquisition, qualification licensing, business operation, bidding and tendering, and tax reduction and exemption. At the same time, Jiangsu will ensure that foreign businesses enjoy equal protection of intellectual property rights in accordance with the law, promote the establishment of a cross regional and cross departmental rapid collaborative protection mechanism for intellectual property rights, and strictly pursue legal responsibility for infringement.
According to the Regulations, local people's governments at or above the county level in Jiangsu Province shall establish and improve complaint mechanisms for foreign-invested enterprises, and provide convenient services such as visas, household registration, medical care, social security, taxation, and housing for the introduction of qualified foreign talents.
