Title: China to Lift Restrictions on Foreign Investment in Manufacturing Sector, Deputy Director of National Development and Reform Commission Announces
In a bid to attract more foreign investment and promote high-quality development, Liu Sushe, deputy director of the National Development and Reform Commission, revealed plans to comprehensively lift restrictions on foreign investment in the manufacturing sector. The move is aimed at optimizing services and introducing policies to facilitate the use of foreign capital in China’s economy.
One of the key initiatives outlined by Liu Sushe is the prompt introduction of policies to revise the national version of the negative list for foreign investment access. This will involve the comprehensive cancellation of restrictions on foreign investment in the manufacturing sector. The goal is to accelerate the introduction and implementation of comprehensive policies to attract and utilize foreign investment, with a focus on aligning with high-standard international economic and trade rules.
In addition to policy changes, efforts will also be made to speed up the implementation of foreign investment projects. In recent years, China has launched seven batches of major foreign investment projects, with significant success in attracting investment and putting projects into production. The announcement of an upcoming seventh batch of 11 projects exceeding a planned investment of US$15 billion signals a continued commitment to attracting foreign investment in sectors such as biomedicine, automobile manufacturing, new energy batteries, and chemical industry.
Furthermore, the National Development and Reform Commission aims to continue optimizing services for foreign-invested enterprises by coordinating and resolving issues related to project implementation at the national level. This includes addressing concerns related to land use, sea use, environmental impact assessment, and energy consumption. Additionally, the commission plans to hold international industrial investment cooperation activities to facilitate multinational companies’ investments in China.
The announcement comes as China seeks to strengthen its position as a hub for foreign investment and technology transfer. With a focus on opening up the manufacturing sector and improving services for foreign-invested enterprises, the National Development and Reform Commission’s initiatives are poised to attract significant interest from international investors.
The move is expected to have a positive impact on the Chinese economy, driving innovation and facilitating the transfer of advanced technologies while also creating opportunities for foreign businesses to establish a stronger presence in the country.
As the government works to introduce these policy changes and optimize services for foreign investment, the upcoming months are likely to see increased activity in China’s manufacturing sector as international investors take advantage of the new opportunities presented by the lifting of restrictions on foreign investment.