China unveils policies to attract more foreign tourists, investors

Chinese authorities have rolled out a package of measures to augment service consumption, as part of broader efforts to spur domestic demand and unleash consumption potential.

The measures, comprising 19 items in five areas, were jointly released on Sept 16 by nine government departments, including the Ministry of Commerce.

In efforts to advance high-level opening-up in the services sector, China will promote the orderly opening-up of areas such as the Internet and culture, while expanding pilot programs in telecommunications, healthcare and education.

The country will encourage the introduction of international sports events and ease market access in the high-end medical services, leisure and vacation sectors.

Also, restrictive measures will be further reduced to attract more foreign investment and private capital.

Meanwhile, steps will be taken to encourage more overseas visitors to spend money in China.

The country will expand unilateral visa waivers in an orderly manner to include more countries, improve regional visa-free entry policies, optimize visa policies for foreigners, and facilitate their communication, accommodation and payment options in China.

The country will also issue five-year multiple-entry visas to more eligible persons.

In addition, China will step up credit support for consumption and offer financial subsidies regarding loan interest to service providers in areas closely related to people's daily lives -- to lower their financing costs.