Shenzhen Government Online
New regulations unveiled to protect investors in Qianhai
From: Shenzhen Daily
Updated: 2023-11-08 09:11

The Qianhai Authority has recently unveiled a set of regulations designed to enhance the protection of private and foreign investors.

The regulations are crucial in maintaining the confidence of both domestic and overseas companies investing in Qianhai, officials said.

The regulations, containing 42 articles, are organized into six chapters, covering general principles, investment facilitation, rights and interest protection, supervision and management, legal environment, and supplementary provisions. The regulations represent the country’s inaugural regional investor protection legislation and align with international high-standard investment and economic trade rules. They will officially come into effect Dec. 1.

The key highlights of the regulations include alignment with global investment rules, facilitation of investment and trade, stronger protection of investors' legitimate rights and interests, innovation in fair competition review mechanisms, and enhanced legal protection of the business environment.

To ensure alignment with international standards, the regulations have benchmarked provisions on investor protection from the Regional Comprehensive Economic Partnership (RCEP), the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and the World Bank's Business Enabling Environment (BEE).

According to the regulations, foreign investors can freely transfer funds in and out without unnecessary delays. Qualified enterprises operating in Qianhai will enjoy streamlined and convenient cross-border capital settlement services to support their new-type offshore international trade endeavors. Additionally, in the event that businesses in Qianhai encounter discriminatory and restrictive measures from foreign entities, the Qianhai Authority is committed to providing assistance to address and navigate such challenges.

To streamline administrative processes, Qianhai will establish an admission system for market entities based on commitments. Market entities can obtain administrative licenses for specific industry-licensed business projects as long as they promise in writing to meet the requirements and submit necessary materials, greatly simplifying the approval procedures for licensed operations.

Furthermore, the Qianhai Authority will compile, publish, and regularly update the guidance catalog of key investment industries. The catalog will classify and accurately notify preferential investment policies and establish cross-border service outlets in Hong Kong and Macao to expand and optimize their services.

The regulations also address several issues raised by market entities, including intellectual property protection, government procurement, and handling of complaints and reports. Detailed provisions have been made to effectively tackle these issues.