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A number of measures to stabilize the central foreign investment policy continued to increase
Published:
2024-07-09
A number of measures to stabilize the central foreign investment policy continued to increase
The State Council deployed the work of stabilizing foreign investment twice within a week, many domestic places introduced measures to attract foreign investment according to their respective resource endowments, and a number of foreign investment projects accelerated their landing... Recently, the policy of stabilizing foreign investment has been strengthened.
Experts believe that the implementation of relevant policies will provide more opportunities for multinational companies to enter the domestic market, but also provide a good business environment for foreign enterprises to produce and operate in China, and achieve stable quantity and quality of foreign investment in China.
A number of policy measures will be introduced to stabilize foreign investment
The foreign investment work Symposium held on July 1 and the executive meeting of The State Council held on June 26 both mentioned that we should increase efforts to attract and utilize foreign investment and take multiple measures to stabilize foreign investment.
It is reported that in order to further encourage foreign investment, a number of stable foreign investment policy measures will be promoted, including the revision and release of the new "Catalogue of Industries to Encourage Foreign Investment", reducing restrictions on foreign investment access, and launching a new round of pilot measures to expand the opening up of the service industry.
Zhu Kri, executive director of the China Information Association and founding director of the National Research Institute of New Economy, said that although the new foreign investment industry catalog has not been announced, it is expected that the support measures for the central and western regions will continue. This year, the catalog may add more entries to encourage the development of the central and western regions.
"In the next stage, we will expand the catalogue of industries to encourage foreign investment and the list of foreign investment projects, launch a new batch of major foreign investment projects, strengthen the guarantee of project elements, and promote the expansion of foreign investment inflow through landmark major foreign investment projects." China Minsheng Bank research Institute researcher Wang Jingwen believes.
Since the beginning of this year, a package of policies to stabilize foreign investment have been introduced. In terms of optimizing the environment, The General Office of the State Council issued the Action Plan for Steadily Promoting High-level Opening Up and Making Greater Efforts to Attract and Utilize Foreign Investment; In terms of easing access, the National Development and Reform Commission and other relevant departments have started the revision of the negative list for foreign investment access and the catalogue of industries encouraging foreign investment. In terms of investment promotion, continue to build the brand of "Invest in China".
Nie Pingxiang, a researcher at the Research Institute of the Ministry of Commerce, said that the implementation of relevant policies will provide more opportunities for multinational companies to enter the domestic market, especially in the fields of medium and high-end manufacturing, modern service industry and scientific and technological innovation, so that multinational companies can share the major opportunities of high-quality development of China's economy, and also provide a good business environment for foreign enterprises to produce and operate in China. We will ensure steady volume and quality of foreign investment in China.
Quantitative targets for attracting foreign investment have been set in many places
A number of foreign-funded projects were launched at a faster pace.
Japan Yokohama rubber Qiantang Project investment cooperation signing ceremony recently held in Hangzhou, the project planned total investment of about 500 million US dollars, is the largest single scale of Hangzhou introduced in the past ten years foreign-owned manufacturing project; Novartis held a groundbreaking ceremony on July 2 in Haiyan, Zhejiang Province, to officially start construction of its first radiopharma production base in China, which is also the first foreign-funded project in the field of nuclear drugs in China.
In order to continue to create a "strong magnetic field" to absorb foreign investment, many places have introduced supportive policies and given quantitative indicators.
Shandong will closely monitor 456 "three batch" projects of more than $10 million to promote early arrival and fast arrival of capital. We will make innovations to expand channels for utilizing foreign capital, encourage reinvestment of profits of foreign-funded enterprises, accelerate equity merger and acquisition projects, and expand the use of foreign capital in finance, new energy and other fields.
Liaoning proposed that by the end of 2025, the high-quality development of enterprises in Liaoning Province will make new breakthroughs, the number and scale of enterprises will reach a new level, and the independent innovation ability, profitability and governance ability of enterprises will be significantly enhanced. Among them, the number of foreign-funded enterprises has reached 18,000, and 1,200 foreign-invested enterprises have been established annually.
In the first five months of this year, foreign direct investment in Sichuan reached 1.053 billion US dollars, a growth rate 8.3 percentage points higher than that of the whole country. The relevant person in charge of the Sichuan Economic Cooperation Bureau said that Sichuan will continue to carry out "major foreign investment projects to attract breakthrough actions", focus on the weak and missing links of the industrial chain, and strive to introduce a number of foreign leading enterprises in advanced manufacturing, specialized and sharp supporting projects, and strive to solve the difficult problems of foreign enterprises, and promote high-quality stock enterprises to "invest again".
We will combine the introduction of foreign investment with the "going global" of enterprises
Data from the Ministry of Commerce show that in the first five months of this year, China newly established 21,764 foreign-invested enterprises, an increase of 17.4 percent year-on-year, continuing the trend of rapid growth of new enterprises since last year.
At the same time, China's manufacturing industry actually used 117.1 billion yuan of foreign investment, of which 50.41 billion yuan of high-tech manufacturing investment, accounting for the proportion of national investment compared with the same period last year increased by 2.8 and 2.7 percentage points, showing that China's investment structure continued to optimize. Advanced manufacturing and modern services, such as artificial intelligence, medical health and digital economy, have become key areas for many foreign companies to expand their presence in the Chinese market.
Zong Fangyu, director of the Research Office of the Department of Foreign Economic Research of the Development Research Center of The State Council, said that under the current international environment, the growth of global cross-border investment is weak, China adheres to a high level of opening-up, strives to promote the construction of "a more open big market + a better business environment + a more resilient supply chain", and encourages and supports foreign investment to participate in the high-quality development of China's economy and the construction of a new development pattern. It will greatly boost the confidence of global investors in investing in China. We believe that foreign investment, whether in stock or in increase, will reap more development opportunities in the open Chinese market.
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