China to Ease Control over Foreign Investment
China will simplify procedures for foreign investors in order to attract foreign capital, the Shanghai Daily reported on Thursday, citing a press release from China's State Administration of Foreign Exchange.

The new measures, set to come into force on December 17, are reportedly aimed at attracting more foreign investment, which has dropped consistently in the last five months and currently faces restrictions by Chinese regulatory authorities.

The authorities will make it easier for foreign investors to open bank accounts in China. Foreign direct investment in the country has been in decline for the fifth straight month. From January to October, according to state administration data, the investment rate fell by 3.45 percent compared to the same period in 2011, totaling about $91 billion. (Cihan/Ria Novosti)
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Last Modified: 2012-11-22 14:00:01
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