BEIJING, Nov. 23 (Xinhua) -- China is advancing the revision of the catalogues of industry guide for foreign investment, which is expected to be completed before the end of March, 2019, according to the Xinhua-run Economic Information Daily.
The catalogues aim to give full play to advantages of the central and western China in resources and labor, and expand the scope of foreign investment.
China's top economic planner National Development and Reform Commission (NDRC) and the Ministry of Commerce (MOC) are advancing the revision of the catalogues, based on the advice and suggestions of the foreign enterprises, foreign investors and relevant business associations.
China encourages the foreign capital to invest more in modern agriculture, ecological construction, advanced manufacturing, smart manufacturing, high-tech, modern service industries in the central and western regions. In addition, these regions are also encouraged to undertake the transfer of foreign-invested industries, strengthen investment cooperation with countries along the Belt & Road, and develop the export-oriented industrial clusters, according to a spokesman of the MOC.
Experts point out that through further institutional innovation and opening up to the outside world, it will definitely bring significant benefits to the economic development of the central and western China. (Edited by Hu Pingchao, hupingchao@xinhua.org)
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