Beijing further opens profit-making vocational skill training sector to foreign inv't
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E-mail Xinhua, August 12, 2022
Photos shows a view of the Central Business District (CBD) in Chaoyang District in Beijing, capital of China, June 6, 2022. (Xinhua/Ju Huanzong)
BEIJING, Aug. 10 (Xinhua) -- Beijing will give nod to foreign investors to solely invest in for-profit vocational skill training institutions, according to a policy recently rolled out by Beijing municipal authorities and will enter into force on August 15.
Previously, foreign investor were not allowed to solely own a vocational institutions. Foreign investment in such sector must be conducted in cooperation with a Chinese entity.
The policy, jointly released by Beijing Municipal Human Resources and Social Security Bureau, Beijing municipal market regulation and administration bureau, and Beijing Municipal Commerce Bureau, removes the investment restriction on foreign capital.
This aims to allow overseas investors to invest in the city's vocational skill training sector in various forms so as to meet the demand for skillful talents needed in industrial transformation and upgrading.
The policy also stipulates to provide equal treatment of overseas investors and domestic investors. For example, in aspects such as educational setting standards, approval procedures, supervision and management, foreign investors can enjoy the same treatment as domestic private vocational skill training institutions in the city. (Edited by Su Dan with Xinhua Silk Road)
