25 July 2023
On 25 July 2023, the State Council issued the “Opinions on Further Optimizing Foreign Investment Environment and Attracting Foreign Investment” (“the Opinions”). The Opinions proposed to expand foreign investments in key areas, speed up the launching of foreign-invested projects in biomedicine in accordance with laws and regulations, encourage foreign-invested enterprises carry out clinical trials of overseas marketed cell and gene therapy drugs within mainland China in accordance with the laws, and optimize the registration procedures for overseas-manufactured drugs that have been marketed overseas and manufactured domestically. In addition, the Opinions clarified the protection mechanism of foreign investment right, including improving the coordination and complaints working mechanism for foreign-invested enterprises at provincial level, and facilitating the settlement of policy matters across various departments.