State Council: Free Trade Zone temporarily relaxes restrictions on foreign businessmen engaged in cotton wholesale

On July 19, the State Council issued the “Decision of the State Council on Temporarily Adjusting Relevant Administrative Regulations, State Council Documents and Departmental Rules Approved by the State Council in the Free Trade Pilot Zone” (Guofa [2016] No. 41), proposing that in the fourth In the large free trade zone, 18 administrative regulations and 4 departmental regulations have been temporarily adjusted, with a total of 51 adjustments. The key ones include allowing the establishment of wholly foreign-owned steel enterprises and temporarily suspending the implementation of foreign businessmen engaged in grain purchase, grain and cotton wholesale. There are two restrictions on the construction and operation of large-scale agricultural product wholesale markets.

In Shanghai, Guangdong, Tianjin and Fujian Free Trade Pilot Zones, restrictions on foreign businessmen engaged in grain purchase, grain and cotton wholesale, and construction and operation of large agricultural products wholesale markets have been temporarily suspended; foreign businessmen can engage in soybean oil, rapeseed oil, etc. in the form of sole proprietorship. Processing of peanut oil, cottonseed oil, tea seed oil, sunflower seed oil, palm oil and other edible oils; temporarily suspending restrictions on foreign investors engaged in rice, flour, raw sugar processing and corn deep processing. In addition, cross-Strait joint ventures engaged in the breeding of new varieties of crops (except grain, cotton and oil crops) (except genetically modified) and seed production (except genetically modified) in the Fujian Pilot Free Trade Zone have temporarily suspended the requirement to be controlled by the mainland, but Taiwanese businessmen It cannot be a sole proprietorship.

This time the four major free trade zones have ushered in adjustments to documents, policies and regulations, which can attract more foreign investment. The relaxation of restrictions on grain purchase and cotton wholesale complies with the needs of my country’s agricultural market reform.

AAA

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