2023-08-13 13:46:33
The Chinese government is trying to make China more attractive to foreign investors and to improve the business climate, says a new government report.
With tax breaks and relaxed visa measures, the Chinese want to encourage foreign companies to set up research and development centers in the country.
China hopes this will boost the weakening economy once more. The government says it will make applications for visas and residence permits easier for employees of foreign companies. The tax support for entrepreneurs will also be increased, the statement said.
The Chinese economy has been in decline for some time. Last week it was announced that China, the world’s second-largest economy, had experienced its largest drop in exports in more than three years in July. That has a direct impact on the tens of thousands of export-oriented companies in China, which are now operating at a much slower pace.
At the same time, domestic spending is also falling. The country also suffers from high unemployment and an aging population.
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