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china has rolled out the 20 measures friendly to foreigners that invest or work in the country last week, saying that it will open up more sectors and remove business restrictions. 

the state council released the opinions on further improving the utilization of foreign investment on nov 7, with the aim of promoting high-quality development and unlocking market vitality. 

 

the document puts forward 20 measures in four aspects to safeguard a more “fair, transparent and predictable” business environment for foreign-invested enterprises (fie). 

 

foreigners working or doing business in china will soon benefit from the measures. let’s check the details! 

expanding opening-up

key words: negative list reduced

to open up more sectors to foreign investors, china will continue to reduce the negative list for foreign investment across the nation and regions beyond pilot free trade zones, and eliminate restrictions that are not on the negative list. 

china will accelerate the opening-up of the financial sector and optimize the foreign investment policies for automobiles and other industries. 

to build a fair business environment, more efforts will be taken to eliminate institutional obstacles. 

 

 

the business scope for domestic and foreign enterprises should be unified, and the regulations for foreign investors in offering internet and entertainment services should be perfected according to the release. 

 

 

further promoting investment

key words: services and construction improved

to encourage and lead more foreign investment in high and new technology industries, china will optimize guidance and services for related enterprises. 

china will improve the construction of pilot free trade zones and bring them to the fore of opening-up. 

 

more provincial-level economic administration approval rights, particularly investment approval and market access, will be released to free trade zones should conditions permit. 

 

 

local efforts and investment service platforms will be developed across the country to actively support foreign enterprises. 

deepening reform of facilitate investment

keyword: easier to work and invest

china will lower the cost of cross-border capital use. foreign-funded enterprises will be supported to expand the cross-border use of renminbi. 

besides, it will be easier for foreigners to work in china since the limitations on age, education background and work experience will be extended for specific groups of people. 

 

it is notable that those who have successively applied work-type residence permits twice, will soon be allowed to apply for 5-year residence permits according to the opinions. 

 

protecting foreign investors’ interests

key words: implementation of law and policies

china will fully implement the foreign investment law, and establish and improve institutions for accepting complaints. 

 

the country will also strengthen the standardization of the implementation of regulatory policies and make the formulation of regulatory documents more transparent. 

china will uphold the role of judicial protection of intellectual property rights (ipr), improve the protection mechanism. 

moreover, the country will build up fair system to support both domestic and foreign enterprises in their fair participation in standardization, and ensure their equal participation in government procurement. 

 

as the policies released, there will soon be detailed local rules and regulations issued and implemented across the country. we’ll stay focus on the issue and share it with you! 

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source | china gov / xinhua

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alibaba’s singles’ day shopping festival, which falls on nov 11 every year, is the world’s largest of its kind. this year chinese consumers have collectively spent 158.31 billion yuan ($22.63 billion) in the first nine hours of the spree. 

transaction volume hit 100 billion yuan ($14.29 billion) in one hour, three minutes, 59 seconds. 

 

it took just 96 seconds for alibaba group to net the 10 billion yuan ($1.43 billion) worth of gross merchandise volume at midnight of nov 11, shorter than last year’s 125 seconds. 

 

 

“this year, new consumption marks the largest departure from its previous editions,” said alibaba chairman and ceo daniel zhang. 

 

“it is more than a shopping festival-it is also an occasion for brands to grow and interact with consumers.” 

sleepless night for shopping

the so-called “double 11” shopping day is based on a folk holiday started by students at nanjing university. 

 

seizing on the numeral “1” for a solo person and the november date of 11/11, the students without partners used the occasion to buy gifts for one another and celebrate being unattached. 

 

jack ma, alibaba founder, latched onto the quirky holiday and turned it into a popular sales event on alibaba’s online shopping sites from 2009. 

 

like previous years, the event kicked off with a star-studded countdown gala celebration, headlined by us singer taylor swift. 

 

the annual discount shopping spree has become a show of china’s collective consumer spending power and as much a festive occasion as a business opportunity for retailers. 

 

last year the 24-hour shopping frenzy raked in a record around 214 billion yuan ($30 billion), surpassing black friday and cyber monday in the united states combined. 

 

gross merchandise volume (gmv) of nov 11, 2018 reached 213.5 billion yuan, while today’s may set new records. 

apart from alibaba, rival platforms such as jd.com (京东) and pinduoduo (拼多多) have also launched their own singles’ day promotion events. 

from nov 1 to nov 10, transactions on jd have already reached 131.3 billion yuan ($18.75 billion). 

 

are you part of this year’s rmb100 billion project? please leave your comment below and share your idea! 

 

did you buy anything? 

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source | chinadaily / scmp

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tired of china mobile, and want to move to china unicom or china telecom but keep your same phone number? you’re finally in luck. mobile number portability (mnp) will soon be implemented nationwide.

it’s been a long time coming, but billions of mobile phone users in china will soon be able to keep their phone numbers when switching carriers. 

china will implement mnp nationwide by the end of this month, after nine years of trials. 

 

which carrier do you prefer? 

while other countries, including the us and most european nations, rooled out such mnp initiatives as far back the early 2000s, china’s attempt to do has been beset by long-running discussions and trials. 

in the past, most users were not allowed to retain their existing numbers if they wanted to switch carriers. so many of them tolerated high charges or unsatisfactory services with their carriers to continue using the numbers. 

anyone wanting to switch carriers can do so once their current contract ends and if they have no outstanding bills, local officials said. 

according to chongqing morning post, more than 2.3 million users in five trial areas have now successfully completed the switch. 

 

if you want to switch carriers, just read the full guide as follows. 

01

am i eligible? 

you are able to do so once:  

 

• you have registrated your id information with your carriers;
  
• your plan is active; 
• there’s no outstanding bill;
  
• your current contract ends;
  
• you have used the networks for more than 120 days. 
  

02

how to do? 

1. check whether you’re eligible
   send a text “cxxz#your name#your id number” to your current carrier to know whether you’re allowed.  
2. receive a switch code
   if you’re eligible, send a text “sqxz#your name#your id number” to your current carrier to get a switch code. 
3. apply for the switch
   bring your code and id documents such as passport to a local branch of the carrier’s service center, then apply for the switch. 

your personal information required should be the same as those which you registered with the carrier. 

 

03

is it available now? 

china unicom’s switching service is currently open to users in tianjin, hainan, hubei, jiangxi and yunnan so far. 

however, china mobile and china telecom still not roll out the service to the public yet.  

you can call the carrier to know more details. 

china unicom: 10010

china mobile: 10086

china telecom: 10000

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source | 重庆晨报 / 人民日报 / technode

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year-end bonuses came early to the delight of factory workers in east china, who not only received bundles of cash but a week’s holiday, just in time for the annual double 11 shopping spree. 

“happy double 11”

the factory in zhejiang province had fulfilled a huge number of wholesale orders from its retail clients prior to the november 11 annual mega sales event. 

the owners decided to reward the workers months before the traditional annual bonus-giving period, which is usually at chinese new year.   

a video posted by btime shows the workers lining up in front of a table on which sits a huge stack of cash. workers are seen signing a receipt and then being handed two bundles of 100-yuan notes, likely worth 20,000 yuan ($2,846). 

 

 

the owners of the factory, which wasn’t named in the video, said employees had worked very hard over the last number of months and decided that along with a cash bonus the workers deserved a week’s rest. 

 

“our boss gives us a lot of money and we’re going to travel to west lake in hangzhou during our week off,” said one of the workers. 

 

 

another employee who seemed near tears said he will buy gifts for his parents and return home for his week off. 

 

 

most chinese netizens praised the factory’s workers and some even jokingly suggested the world’s busiest shopping day – november 11 – should be made a national holiday. 

 

the day has become more international. many foreigners are joining the online gold rush. they want to sell products not only in china but in their own countries. 

 

not everyone can bonus or holiday like the workers, but there’re still many good discounts offered in the global shopping festival. 

 

 

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source | btime / global times

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