These changes are part of a larger strategy to enhance the service industry’s competitiveness and attract investments from both domestic and foreign sources.
The document outlines six key points:
1. Opening Up Non-Profit Medical and Elderly Care Institutions to Foreign Investment
Medical Institutions: Foreign investment is now permitted in non-profit medical institutions in Shenyang, Wuhan, Guangzhou, and Chengduthrough joint funding with Chinese entities, following relevant regulations to provide basic medical and health services.
Elderly Care Institutions: Foreign investors are allowed to fund non-profit elderly care institutions in Hangzhou, Guangzhou, and Chengdu. Eligible institutions can register as non-enterprise private entities in accordance with the law.
2. Permitting Establishment of Foreign-Invested Travel Agencies
Travel Agencies: Foreign-invested travel agencies meeting relevant conditions are allowed to be established in Shenyang, Nanjing, Guangzhou, and Chengdu. These agencies can engage in outbound tourism business, excluding travel to Taiwan.
3. Opening Domestic Internet VPN Services to Foreign Investment
VPN Services: Foreign investment is permitted in domestic internet virtual private network (VPN) services in Shenyang, Nanjing, Hangzhou, Guangzhou, and Chengdu, with the foreign shareholding ratio not exceeding 50%.
4. Removing Foreign Shareholding Restrictions in Specific Value-Added Telecommunications Services
Telecommunications Services: The foreign shareholding restrictions are removed for information service businesses (limited to app stores and excluding prohibited areas) and internet access services (limited to providing internet access to users) in Shenyang, Nanjing, Hangzhou, Guangzhou, and Chengdu.
5. The approval authority for operating entertainment venues and establishing performance brokerage agencies in the cultural and entertainment sector has been delegated.
Entertainment Venues: Approval authority for the establishment of entertainment venues and performance brokerage agencies by foreign investors, and investors from Hong Kong, Macau, and Taiwan, is delegated to the cultural authorities of Nanjing, Hangzhou, Wuhan, Guangzhou, and Chengdu.
Commercial Performances: Approval for holding commercial performances involving foreign or Hong Kong, Macau, and Taiwan cultural and arts groups or individuals is delegated to the cultural authorities of Nanjing, Wuhan, Guangzhou, and Chengdu.
6. Allowing Foreign Investment in Social Surveys in Guangzhou
Social Surveys: Foreign investment is permitted in social survey businesses in Guangzhou, with the Chinese party holding no less than 67% of the shares, and the legal representative must be a Chinese national.
These regulatory adjustments signify China’s commitment to fostering a more open and attractive environment for foreign investors, aligning with the country’s broader economic goals.
We have outlined the adjustments below for your easy reference:
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