Zhejiang Modifies Policy to Encourage Foreign Fund InflowThe east China coastal province of Zhejiang has made modifications to its policy on the establishment of overseas-funded enterprises.Solely private-funded enterprises and cooperative enterprises with overseas investors are now allowed to set up overseas-funded enterprises, it said. Moreover, major overseas corporations which intend to invest in this capital of the province, can appoint domestic foreign trade companies as agents to sell their products on a trial basis for a year. Moreover, overseas-funded enterprises will be allowed to participate in sales of self-produced auxiliary products. Overseas-funded enterprises having over two million yuan of registered capital can have words like "industrial" added to their names. The number of overseas-funded enterprises in the province currently exceeds 10,000. |
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