The State Council of China issued Several Measures on Promoting Foreign Capital Growth (Guo Fa (2017) No. 39) on August 16, 2017, to attract more foreign investment and improve the quality of such investment. The Measures call on relevant government agencies to further reduce restrictions on market access for foreign capital by applying the foreign investment negative list nationwide and opening more industries to foreign investors. The Measures further call on relevant government agencies including the Ministry of Finance, the State Administration of Taxation, and the Ministry of Commerce to formulate and implement preferential tax policies for foreign investors, such as a deferred tax policy for re-investment and preferential income tax policy for qualified technology service companies. The Measures also call on local governments to issue financial supporting policies for companies setting up regional headquarters and companies investing in special development zones and key projects.