Greater Vista in Beijing's Investment Environment

This year saw a good start in the use of foreign capital in Beijing, the constantly improving environment for investment has won the favor of numerous overseas investors for Beijing.

The latest statistic from Beijing Foreign Economic and Trade Committee indicates that during the first two months, the number of newly approved foreign-funded enterprises is 127, contract value under agreement is US$0.5 billion, and contracted foreign fund US$0.295 billion, a growth by 67.1%, 5.8%, 1.6%, respectively as compared to the same period of last year.

The business firms from US, Japan, EU, Hong Kong SAR and Taiwan region vie with one another to invest in Beijing since the beginning of the year. Many foreign-funded enterprises have also added their investment. The investment features big in scale, increase of investment projects and the investment orientated to high-tech industry. In January and February, 43 foreign-funded enterprises increased their investment by US$0.11 billion. There are 11 newly approved foreign-funded establishments whose investment scale exceeds US$10 million and the contracted foreign-fund has topped US$ 0.102 billion.

This year, Beijing municipal government will encourage foreign-funded enterprises to pour money into high-tech industry, Zhongguancun Science Garden, the tertiary industry and city infrastructure construction. To carry it out the foreign-funded enterprises are encouraged to do more technical development and innovation, and expand domestic purchases by providing them with more privileges in import tariff, import link tax, value-added tax, business tax as well as income tax. The authorities concerned state that they will further improve the management of and service for foreign enterprises, relieve their rear disturbances as regards foreign exchange administration, commodity inspection management and transfer of right for land-use and relevant preferential treatment will also be offered to the investment companies in Beijing.

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