In a bid to rejuvenate its economy grappling with the aftermath of the COVID-19 pandemic, China has announced a series of strategic measures to stimulate growth.
These initiatives, introduced by the Ministry of Public Security, encompass visa regulation adjustments and reforms to the long-standing residence system, known as “hukou”.
Measures Announced By China
The comprehensive set of 26 measures aims to invigorate consumption and tackle challenges faced by the real estate sector. The measures, which were announced by the Ministry of Public Security, include:
1. Allowing some foreigners to obtain visas on arrival. Previously, foreigners had to apply for visas at a Chinese embassy or consulate in their home country.
2. Further relaxing the hukou system. The hukou system is a controversial system that classifies Chinese citizens as either “urban” or “rural.” Under the new rules, people from rural areas will be able to settle more easily in cities.
3. Encouraging people from rural areas to settle in cities with their families. The government will provide financial and other assistance to help people from rural areas make the move to cities.
The government said that the measures are aimed at “promoting the free movement of people, vehicles, information and data.”
They are also seen as a way to boost the economy by attracting foreign investment and talent, and by encouraging people to move to cities where there are more job opportunities.
Also Read: China Resumes 15-Day Visa-Free Travel for Singapore and Brunei
Background
China’s economy has been slowing down in recent months, due to a number of factors, including the COVID-19 pandemic, the war in Ukraine, and rising inflation. The government is hoping that the new measures will help to boost economic growth.
Reaction
The business community has welcomed the new measures, saying that they will make it easier for foreign companies to do business in China. The government has also been praised by some economists, who say that the measures are a step in the right direction.
However, some critics have said that the measures do not go far enough, and that more needs to be done to open up the Chinese economy.
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