China VPN plans could allow up to 50% foreign ownership

News Snapshot:

China is set to increase VPN services in the country by allowing foreign ownership up to 50% for each provider amid a "dishonest track record in governing tech companies." The announcement is part of a set of guidelines published on August 13 aimed to boost increasingly backsliding foreign direct investment (FDI) rates in China. The 24 measures also include more fiscal and tax support to foreign firms willing to invest, the set up of new research and development centers, as well as enhanced intellectual property protections. Above all, the proposal of boosting China VPN has surely been welcomed with great...