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Qingdao issues policies to enhance biz environment

( China Daily )

Updated: 2013-01-31

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The government of Qingdao issued new policies designed to enhance the business environment for foreign-invested companies in late December 2012.

They require various agencies to offer more efficient services.

The following are part of the directives issued in the document:

Provide more efficient services and effective communication to foreign-funded enterprises. The Qingdao Foreign Investment Service Center shall use its 24-hour hotline and website to respond to the needs of companies and take action regarding their complaints. All complaints shall be handled within five days at maximum.

Improve social insurance management for foreign-funded companies. According to bilateral social security agreements, foreign employees who have joined social security programs in their own countries do not have to pay for social insurance in Qingdao once their participation in the program of their home country is verified.

To help companies reduce operation costs, government agencies are required to adequately collect administrative service fees, and excessive charges are prohibited.

Inspections of companies should be reduced unless they are related to issues that are mandated by national law. Inspections for the same issue can only be conducted once a year.

Banks are encouraged to help companies raise funds and expand their businesses by simplifying foreign exchange approval procedures and enhancing cooperation with international financial institutions.

The exit and entry administration should make processes convenient for expatriates by simplifying visa procedures and making it easier to extend residence permits in the future.

The issuance of work permits for foreign talent will also be streamlined. More efforts will be made to attract overseas talent through housing incentives, improved schools for their children and medical services as well as assistance with patent applications and technology transfer.

Safety of expatriates and foreign operations will be further prioritized.

China Daily