China to further shorten negative list for foreign investors: top economic planner
By Bi Mengying, People’s Daily
China
would further shorten a negative list on market entry for foreign investors and
release a new edition for 2020, said Ning Jizhe, deputy head of the National
Development and Reform Commission (NDRC), China’s top economic planner, at a
press conference on May 24.
Over
the past three years, the country has eased market access restrictions for
foreign investors by reducing the prohibited or restricted items on
the negative list from 93 to 40.
Thanks
to the further opening up of China’s market and the continuous improvement of
investment environment, major foreign investment projects have become a new
highlight of China’s utilization of foreign investment in recent years.
A
large number of major foreign-invested projects commenced in China last year,
attracting worldwide attention. The second phase of Samsung’s memory chip plant
in Xi’an, capital of Northwest China’s Shaanxi Province completed building
factories, and German chemical giant BASF began construction of its $10 billion
integrated petrochemicals project in Zhanjiang, South China’s Guangdong Province.
Besides, the Tesla Shanghai Gigafactory, Tesla’s first plant outside the United
States with an investment of over $7 billion, broke ground and started production.
Even
the novel coronavirus pandemic cannot stop China’s attraction for foreign investors.
BMW
Brilliance Automobile Ltd. unveiled a new plant in Shenyang, capital of Northeast
China’s Liaoning Province, on April 1, 2020. Three weeks later, ExxonMobil
broke ground on its chemical complex in Huizhou, South China’s Guangdong
Province, and a special “cloud inauguration ceremony” was held online. These
projects have played an important role in China’s efforts to stabilize foreign
investment and further open up.
A
number of key foreign-funded projects are expected to be launched this year in
electronic information, new materials and advanced manufacturing, according to Ning
Jizhe.
He
also pointed out that under the guidance of the government work report, the NDRC
would take firm steps to expand opening-up, ensure stability of foreign
investment, industrial chain and supply chain, and make further efforts
the following aspects.
The
country will work to ensure the implementation of major foreign projects. China
has implemented 18 major foreign investment projects in three batches, and a
fourth will be launched soon. The country will also expand its reserve of advanced
manufacturing, as well as producer and consumer services.
China
will further cut negative list for foreign investors, promote further
opening-up of such industries as services, manufacturing and agriculture, and encourage
free trade zones to lead the way and explore new paths. Restrictions outside
the negative list shall not be applied to foreign enterprises.
The
country will continue to encourage foreign investments. China will introduce a 2020
edition of catalogue of industries that encourage foreign investment, in which
the scope of encouraged industries will be broadened.
This
aims to boost high-quality development of the manufacturing sector and allow
more foreign investors to enjoy tax and other preferential policies.
China
will make continued efforts to improve the business environment for foreign
enterprises. The country will establish and improve all kinds of mechanisms for
the promotion, protection and management of foreign investment, perfect the
service for foreign investors, treat all domestic and foreign
enterprises equally and protect the legitimate rights of foreign investors.
Ning
said that China would continue to facilitate international travels for foreign
projects by opening“green channels”and
air charter services, in a bid to accelerate the implementation of these
projects.
“Over
1,000 South Korean technicians have recently arrived in China by chartered flights,
and they have played a part in the implementation of relevant projects,” he noted.
Ning
also urged that foreign chambers of commerce in China to work more closely with
foreign enterprises in China, so as to coordinate and help resolve issues enterprises
encounter in the resumption of work and production.
Customers visit a newly opened
Tesla Service Center in Shanghai on May 9. Photo by Wang Gang/People’s Daily
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China to further shorten negative list for foreign investors: top economic planner
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