China’s economic planner announced on Wednesday its intention to implement stronger policy measures to further encourage foreign investment as part of its ongoing commitment to expanding its opening-up policies. According to Yuan Da, spokesperson for the National Development and Reform Commission, China will continue to promote fair competition, facilitate the flow of innovative resources, and foster practical cooperation between domestic and foreign enterprises.
In addition, the negative lists for foreign investment will be shortened, with consideration given to reducing the negative list specifically for foreign investment at the Hainan Free Trade Port, Yuan noted. To enhance services for foreign investors, China will continue hosting international industrial investment cooperation activities, improving communication channels for foreign businesses, and addressing issues and reasonable demands from enterprises in a timely manner.
Official data reveals that foreign direct investment (FDI) in the Chinese mainland reached 499.46 billion yuan (approximately 69.79 billion U.S. dollars) in the first four months of 2023, representing a 2.2 percent year-on-year expansion. Notably, FDI in the manufacturing and high-tech sectors experienced growth of 4.1 percent and 12.8 percent, respectively, during the same period compared to the previous year.
Yuan highlighted the positive impact of these foreign-funded projects, emphasizing their role in optimizing China’s industrial structure, promoting regional coordinated development, and fostering a new development pattern.
