China's Dominance

China Unveils Action Plan to Attract Foreign Investment and Promote High-Level Opening Up

Main image to the post China Unveils Action Plan to Attract Foreign Investment and Promote High-Level Opening Up

The General Office of the State Council has released an action plan to promote high-level opening up and attract foreign investment. The plan recognizes the significance of foreign investment in China's modernization and economic growth.

To achieve this, the plan emphasizes the creation of a favorable business environment that fosters confidence among foreign investors. This includes implementing the new development concept and establishing a market-oriented, law-based, and internationalized business environment.

expanding market access, enhancing appeal to foreign investment, fostering a level playing field, facilitating the flow of innovation factors, and aligning domestic rules with international economic and trade standards.

Specific measures include shortening the negative list for foreign investment, launching pilot programs to relax foreign entry thresholds in scientific and technological innovation, and expanding access of foreign financial institutions to the banking and insurance sectors.

Additionally, the plan aims to expand the Catalogue of Encouraged Industries for Foreign Investment and the list of key foreign-funded projects to provide enhanced policy support for attracting foreign investment. Measures will also be taken to support data flow between foreign-funded enterprises and their headquarters, facilitate international business personnel exchanges, and improve the management of work and residence permits for foreign nationals.

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May 21, 2023 | 05:09