BUSINESS China allows foreign investors to open entertainment venues

BUSINESS

China allows foreign investors to open entertainment venues

Xinhua

14:35, June 02, 2021

The Shanghai Disney Resort launches its 5th birthday celebration and the 10th anniversary of the groundbreaking of the site on April 8. (Photo: China Daily)

BEIJING - China has permitted foreign investors to open entertainment venues on the Chinese mainland, removing restrictions on the proportion of foreign investment, said a recent circular released by the Ministry of Culture and Tourism.

To set up an entertainment venue, foreign investors shall submit an application to provincial-level administrative departments of culture and tourism, said the circular.

Application documents and conditions for establishment and procedure are consistent with those for domestic investors, it added.

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