China

China

Giving Shenzhen greater autonomy to attract investment

18 Oct 2020

On 18 October 2020, the National Development and Reform Commission published a list of reforms for Shenzhen that include steps for financial markets, intellectual property protection, economic legislation and talent attraction. Key points include, inter alia: - Restrictions on foreign ownership in telecommunications will be lifted. - Shenzhen will streamline visa rules to attract talent. - The city will be allowed to issue offshore, yuan-denominated local government bonds. - Shenzhen will build a new intellectual property rights protection system that ensures digital IP protection and punishes infringements.