On 13 Aug. 2023, the State Council of China issued the “Opinions on Further Optimizing the Foreign Investment Environment and Strengthening Efforts to Attract Foreign Investment” (hereinafter the “Opinions”, 关于进一步优化外商投资环境加大吸引外商投资力度的意见).
The highlights of the Opinions are as follows:
- Foreign investors are supported in establishing research and development centers in China as well as collaborating with domestic enterprises on technology research and development and industrialized applications;
- Foreign-funded enterprises are encouraged to conduct inside China the clinical trials of cell and gene therapy medicinal products that have been marketed abroad in accordance with the law;
- If foreign-funded enterprises believe that their rights and interests have been infringed by any government procurement activities, they may file objections and complaints in accordance with regulations;
- Foreign-funded enterprises and their products and services shall not be excluded or discriminated against by restricting trademarks or under the pretext that they are foreign-funded enterprises, except as otherwise expressly provided for by laws and regulations or where national security is involved; and
- In the implementation of laws such as the Cybersecurity Law, the Data Security Law, and the Personal Information Protection Law, green channels shall be established for eligible foreign-funded enterprises, and the security assessment of outbound transfer of important data and personal information shall be conducted effectively to promote the safe, orderly and free flow of data.
Contributors: CJO Staff Contributors Team