SHENYANG — Authorities in Northeast China’s Liaoning province have released new measures to attract more foreign investment and further open up to the world.
At the provincial work conference on opening up held on April 2, Liaoning authorities released 40 measures aimed at bringing overseas investment into the province’s equipment, technology and service sectors.
By 2020, the province aims to utilize $10 billion of foreign investment and 600 billion yuan ($95 billion) of investment from other Chinese provincial-level regions.
In 2017, Liaoning attracted $5.34 billion of foreign investment, up 78 percent year-on-year.
The province also released measures to support foreign investors in setting up research and development (R&D) centers in Liaoning. It will grant subsidies ranging from 500,000 yuan to 2 million yuan to approved R&D centers between 2018 and 2022.
In 2017, Liaoning’s GDP grew 4.2 percent to 2.39 trillion yuan, reversing the negative growth of 2.5 percent in 2016.