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Chongqing Opens Wider to Foreign Investors
Southwest China's Chongqing Municipality has worked out a new policy which allows the inflow of overseas funds into the finance, commerce, insurance, telecommunications, foreign trade, and transportation sectors.
The policy also encourages overseas investors to fund enterprises in the tourism, education, medical treatment and other service sectors in Chongqing.
The policy also offers overseas investors preferential treatment in terms of taxation, financial management, real estate, cargo import and export, investment mode, registration, exit and entry procedures.
As of August this year, Chongqing has approved 2,843 overseas-funded businesses, with 4.6 billion U.S. dollars of overseas funds have actually been used. These enterprises mainly cover high-technology, metallurgy, petro-chemicals and medicine.
Among the 53 overseas-invested enterprises established in the first half of the year, 20 percent are engaged in social services, twice the figure from the same period last year.
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