ISSUING AUTHORITY:

State Council of the People’s Republic of China

DATE OF ISSUANCE:

June 29, 2023

EFFECTIVE DATE:

June 1, 2023

On June 29, 2023, State Council published Several Measures in Qualified Pilot Free-Trade Zone and Free-Trade Port to Apply International High Standards and Promote Opening Up Based on Rules and Related Institutions (the “Measures”), which consists of 33 measures involving 6 aspects.

The Measures aim to promote innovation and development of trade in goods, advance free and convenient trade in services, facilitate temporary entry of businessmen, improve healthy development of digital trade, further optimize business environment, and perfect risk prevention and control systems. Specifically, in these Measures, pilot import of remanufactured products in key industries is supported in the pilot zones; with certain exceptions, for a new financial service that is allowed to be provided by Chinese financial entities, foreign financial entities in the pilot zones should also be allowed to provide the same service; for senior management personnel of foreign companies that plan to establish branches or subsidiaries in the pilot zones, the duration of their temporary stay in China will be extended to 2 years; for import, distribution, sales or use of mass market software (excluding software for critical information infrastructure) and products containing such software, relevant departments and personnel shall not make transfer or acquisition of related software source codes owned by companies or individuals as a condition or requirement thereof.

Reference:

《国务院印发关于在有条件的自由贸易试验区和自由贸易港试点对接国际高标准推进制度型开放若干措施的通知》