• Introduced policies to reduce fees and taxes locally, and open up to the outside world.

Fee Reduction

• In earlier 8 months, fees and tax reduction has helped reduce burden on businesses.
• Planning to strengthen fiscal budget management among local government bodies, and improve reform, development and employment through research and innovation.

Opening Up Market

• Stepping up efforts to open financial sector, such as trade deal with US.
• Remove business restrictions on foreign banks, brokerages, fund management firms.
• Improve the convenience of investment by allowing foreign-funded enterprises to raise capital from foreign sources for the purposes of investment in equity within China.
• Fair protection of rights of foreign investment; protect foreign investors from being forced to transfer technology, improve protection of patents on e-commerce platforms.
• Support local governments' efforts to attract more foreign investment with incentives.

Regulation Amendments

• Regulations on management of foreign-funded insurance companies and regulations on management of foreign-funded banks amended in line with opening up of industry.
• Amendments to the regulations are effective on the day of publication, 16 October 2019.