Simplified measures for investment

The Chinese government will further streamline approval procedures for foreign investment across the country to attract more overseas investment and improve China's business environment.

A new legislative guideline was approved during the State Council's executive meeting on Oct 8, chaired by Premier Li Keqiang. "Our country also needs advanced technology and new ideas to press ahead with development," Li said. "This is part of the government's crucial efforts to streamline administration and delegate power, as well as improve our business environment."

The new guideline is a revision of the existing administrative measures for foreign investment in China's four free trade zones in Shanghai, Guangdong, Tianjin and Fujian, turning the three-year pilot measures into a legislative guideline.