Beijing announces plan to improve business environment

Beijing municipal government issued an implementation plan on reforming and optimizing the capital's business environment on Sept 16.

Policies and measures in the areas of investment, trade, production, personnel and rule of law have been included in the plan to improve the business environment.

"We will simplify the investment procedures to create a more convenient investment environment," said Tan Xuxiang, director of Beijing Development and Reform Commission.

He said, "The time for record keeping of foreign-funded enterprises will be shortened from 20 days to 3."

Tan added, "Restrictions on foreign access and proportion of foreign shares will be lowered in many competitive fields."

"The policy of talent introduction will be revised to attract talents of investment and innovation. For example, foreign investors with great innovation potential or meeting the needs of developing industries will be given the five-year work permit," said Tan.

He said, "In 2 to three 3, 19 primary and middle schools will be built in major industrial and talent concentrated areas."

Zhang Yi contributed to this story.