face limits: According to the plan, foreign investors will no longer face limits on the proportion of the investment when they establish entertainment facilities and set up companies running performance facilities and performance agencies, according to Global Times China. The new plan also states that foreign investors are allowed to invest in audio-video production businesses in the city. The Beijing municipal government has announced a three-year plan to ease the rules for foreign investment in the culture and tourism industries, under which the city will further expand market access for foreign investment, ease the examination and approval system, and improve the supporting policies and regulation of the market, the Xinhua News Agency reported on Tuesday. Operation of outbound travel services for Chinese nationals will be permitted for wholly foreign owned travel agencies. Beijing's plan shows that China is opening its market for foreign investment, Bai Ming, a research fellow at the Chinese Academy of International Trade and Economic Cooperation, told the Global Times on Tuesday. The plan can stimulate investment and consumption in the city's cultural and tourism markets, Xinhua reported.
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Tagged under face limits, market access topics.