Liaoning releases measures to attract more foreign investment

Updated 2018-04-02 17:14:08 Xinhua

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 Saturday, 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 U.S. dollars of foreign investment and 600 billion yuan (about 95 billion U.S. dollars) of investment from other Chinese provincial-level regions.

In 2017, Liaoning attracted 5.34 billion dollars 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.

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