Investment climate to improve

Foreign projects to enjoy faster customs clearance, lower taxes

China will encourage major foreign-invested projects, lower import tariffs and ease customs procedures to expand opening-up and enable a better environment for foreign investment, it was decided at a State Council executive meeting presided over by Premier Li Keqiang on Wednesday.

An online filing process will be introduced to regulate foreign investment in China. Unified market access criteria will be applied to both Chinese and foreign investment in areas outside the negative list.