Ministry of Commerce Supports Foreign Companies in Resuming Work

On 10 February, the General Office of the Ministry of Commerce issued its Circular on Improving Services for Foreign-Invested Enterprises and Strengthening the Promotion of Foreign Investment to Actively Respond to the Novel Coronavirus Pneumonia. The directive calls for efforts to provide better services to foreign-invested enterprises and attract foreign investment provided epidemic prevention and control measures are supported. Competent commerce departments at various levels are urged to actively co-operate in these endeavours. Key instructions are as follows:

• Actively assist foreign-invested enterprises in resuming normal production and operations in an orderly manner. With the goal of ensuring effective epidemic prevention and control and in accordance with arrangements made by local governments, commerce departments will assist in various preparations for the resumption of work, including supporting foreign-invested enterprises to that end. Foreign-invested enterprises engaged in the production of medical protective clothing, masks, goggles and other protective supplies shall organise resumption of work as quickly as possible at full capacity.
• Support foreign investment projects. The ministry will expedite the progress of big foreign investment projects under discussion, strengthen communication between parties, actively promote investment co-operation, and see to it that contracts for such projects are signed and that the projects are launched as soon as possible.
• Innovate around ways to attract investment. In view of the current difficulties, including impediments to the movement of people, the advantages of the internet are to be put to good use to promote and attract foreign investment. Different investment resources will be integrated and put on online investment platforms, allowing for online negotiations, video conferencing and signing of contracts online.
• Provide targeted assistance according to actual situations. Market regulators will strengthen communication and co-ordination with foreign companies, properly implement the foreign investment information reporting system, and ensure that information is promptly, truthfully, accurately and fully reported.
• Constantly improve the business environment. The Foreign Investment Law and its Implementing Regulation, as well as regulations and policies such as the Opinions of the State Council on Further Doing A Good Job in the Utilisation of Foreign Investment (Guo Fa No. 23 [2019]) will be fully implemented and effectively publicised and interpreted to create an investment environment that is more stable, equitable, transparent and predictable.

Source: Ministry of Commerce