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At a Glance
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SOE mergers
XI'AN: Foreign investors will be allowed to conduct mergers and acquisitions of the State-owned enterprises (SOEs) in Xi'an, capital city of Northwest China's Shaanxi Province.
Foreign investors will also be allowed to buy or even hold the largest proportion of SOEs' shares, according to local officials.
Compensation rules
BEIJING: Chinese lawmakers are now considering adding clauses concerning civil compensation by fund managers and custodians into the proposed investment fund law, which is expected to come out next year.
With the new rules, investors could be compensated for their financial losses caused by mistakes or misconduct of fund managers or custodian banks, including false information disclosure.
Free land use right
XI'AN: Free land use right will be granted to certain multinationals planning to invest in Northwest China's Shaanxi Province, local government sources revealed on Wednesday.
The privilege of free use of land will be offered to leading multinationals that plan to set up enterprises in the province's State-level economic development zones and invest in the sectors encouraged by the government, reliable sources said.
The privilege will also be offered to foreign companies planning to invest in harnessing barren mountains and deserts in Shaanxi, according to the sources.
Cross-border trade
XI'AN: Xinjiang Uygur Autonomous Region in Northwest China plans to further expand its trade and economic relations with foreign countries, especially surrounding nations in the middle and western parts of Asia.
An official with the regional government announced on Wednesday that the 10th Urumqi Trade Fair will be held in the regional capital, Urumqi, in September. The autonomous region also plans to hold some other fairs including the China Food Exposition and the Second Xinjiang Textile Exposition, the official said.
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