Li Keqiang Talks on Building an International Business Environment: Further Expanding the Introduction of Foreign Investment

In the 2017 Global Business Environment Report released by the World Bank, China's ease of doing business has jumped to 18th place globally in the past three years; Among them, the convenience of starting a business has jumped by 31 places. This is the unremitting efforts made by the central government to create a stable, fair, and predictable business environment and accelerate the construction of an open economy.

Over the past four years, various departments of the State Council have cancelled and delegated 618 administrative approval items, and cancelled 283 central designated local implementation administrative approval items. The cumulative reduction rate of enterprise investment projects approved at the central government level has reached nearly 90%. 87% of the pre approval items for industrial and commercial registration have been changed to post approval or cancellation. Nearly a hundred reform measures have been launched at the national level to stimulate market vitality and optimize the business environment.

Premier Li Keqiang pointed out that creating an international and legalized business environment, further expanding the introduction of foreign investment, is of great significance for implementing the new development concept, promoting supply side structural reform, promoting medium to high speed economic growth, and moving towards a medium to high end level.

The Prime Minister has provided these explanations on optimizing the business environment——

This year, in accordance with the deployment of comprehensive deepening reform, we will take promoting supply side structural reform as the main line, and make full breakthroughs in promoting the integration of multiple certificates as the key work of commercial system reform. Further reduce the institutional transaction costs of establishing enterprises and create an international, legal, and convenient business environment—— On May 26, 2017, Premier Li Keqiang issued a directive on the comprehensive promotion of the 'multi certificate integration' reform through a teleconference

The problem that some private enterprises are facing now is not 'glass doors', 'spring doors', or 'revolving doors', but 'no door'! I don't know where the 'door' is! Therefore, it is necessary to further relax access and allow private capital investment to have access—— On May 4, 2016, Premier Li Keqiang presided over the Executive Meeting of the State Council

The door to China's opening up will continue to widen and become the most attractive destination for foreign investment—— On March 5, 2017, Premier Li Keqiang delivered a government work report

Currently, many countries are introducing policies to optimize the business environment. Against the backdrop of global competition, we need to increase our sense of urgency, further deepen the reform of 'streamlining management and serving the government', and continuously optimize China's business environment—— On April 26, 2017, Premier Li Keqiang presided over the Executive Meeting of the State Council

We will further expand openness and optimize the business environment. China has a huge market and talent resources, making it the best investment destination for developing the manufacturing industry—— On May 9, 2017, Premier Li Keqiang visited Zhengzhou Foxconn Technology Park

Create a better hard and soft environment, and promote 'innovation and entrepreneurship' to a higher level and level—— On June 7, 2017, Premier Li Keqiang presided over the Executive Meeting of the State Council

Accelerate the reduction of market entry barriers, further simplify procedures, and continue to implement measures to reduce taxes and fees, allowing enterprises to 'light up' and making China a hot land for investment and development—— On June 7, 2017, Premier Li Keqiang presided over the Executive Meeting of the State Council

We will create a more convenient business environment to attract foreign investment. China, a hot land for investment and a large market for commodities, will show increasing advantages and attractiveness—— On June 12, 2017, Premier Li Keqiang met with all representatives attending the Second World Overseas Chinese Business Conference and delivered a speech

The business environment is productivity. Local governments should not forget the old practice of 'focusing on projects', but also learn new skills of 'creating the environment'. They should shift from pursuing preferential policies as a 'depression' in the past to creating a 'highland' for fair business environment—— On June 13, 2017, Premier Li Keqiang attended a national teleconference on deepening the reform of streamlining administration, delegating powers, delegating powers, and optimizing services through the combination of decentralization and management

The process of promoting reform in China requires the participation of foreign investment, foreign investment, and foreign intelligence. We welcome foreign enterprises to participate in mergers and acquisitions in China, and will further open up the entry barriers for foreign investment in the service industry, implement negative list management, and provide some support to domestic enterprises in accordance with WTO policies. As long as foreign enterprises are registered in China, we will treat them equally—— On June 28, 2017, Premier Li Keqiang met with representatives of entrepreneurs at the 2017 Dalian Summer Davos Forum

Introduce regulations and policies to further stimulate market vitality, create a fair and legal environment, treat domestic and foreign enterprises registered equally, promote the healthy development of private investment, and enhance the attractiveness of foreign investment—— On July 5, 2017, Premier Li Keqiang presided over the Executive Meeting of the State Council