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Policy

China to further opening up to foreign investment

March 20, 2020


Abstract : China will release more policies to further opening up to foreign investment amid the fight against the novel coronavirus pneumonia and efforts to ensure stable economic development.

BEIJING, March 20 (Xinhua) -- China will release more policies to further opening up to foreign investment amid the fight against the novel coronavirus pneumonia and efforts to ensure stable economic development.

The National Development and Reform Commission, the Ministry of Commerce (MOC) and relevant departments are revising the negative lists for foreign investment access in China and its pilot free trade zones (FTZs), according to the Xinhua-run Economic Information Daily.

New versions of the two negative lists, which were used to be launched in June or July in previous years, are likely to be released earlier this year in May, said Zhang Fei, deputy director of the foreign investment research institute of the Chinese Academy of International Trade and Economic Cooperation of MOC.

The new negative lists this year will highlight the expanded foreign investment access in service industries including healthcare, elderly care, financial sector, transportation, logistics, tourism, education and training, and value-added telecommunication services, according to Zhang.

In the meantime, China will further expand the scope of the catalogue of encouraged foreign investment industries, promote the implementation of major foreign-invested projects, and encourage overseas investors to increase investments in the northeast, central and western regions of the country.

Efforts will also be made to speed up institutional innovation to optimize the market environment for foreign investment, establish foreign investment service system, and increase the protection of the rights and interests of foreign investors, Ye Wei, deputy director of the foreign investment department of MOC said Wednesday.

Series of opening-up measures further boost foreign investors' confidence in the Chinese market. Despite the epidemic, many multinational companies, such as Costco, Toyota, Starbucks, have increased their investments in China. (Edited by Su Dan, silviasu07@163.com)

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Keyword: foreign investment

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