At the recent briefing held by the State Council Information Office on policies to expand opening-up and actively utilize foreign investment, Vice Minister of Commerce Wang Shouwen spoke about last year... 12 Moon 28 The State Council’s Executive Meeting adopted the “Notice on Several Measures for Further Expanding Opening-up and Actively Utilizing Foreign Investment” (hereinafter referred to as the “Several Measures”). It is worth noting that the “Several Measures” propose significantly easing foreign investment access restrictions in the service sector, manufacturing, and mining industries by revising the “Guidance Catalog of Industries for Foreign Investment” and related policies and regulations.

According to the introduction, the “Several Measures” mainly include: 3 The content covers three aspects: first, new initiatives to further expand opening-up; second, measures to promote fair competition between domestic and foreign investment; and third, intensified efforts to attract foreign investment.

Regarding further expanding opening-up, the “Several Measures” propose, “Made in China” 2025 The strategic policy measures shall apply equally to both domestic and foreign-invested enterprises. We encourage foreign investment in high-end manufacturing, smart manufacturing, and green manufacturing, as well as in the upgrading and transformation of traditional industries. We will support foreign investors in participating in infrastructure development through franchising arrangements in accordance with the law and regulations, and ensure that they enjoy the same supportive policies. We also support foreign investors in establishing R&D centers and engaging in R&D collaborations with domestic enterprises and research institutions. It is particularly worth noting that the “Several Measures” propose supporting overseas high-level talents in starting businesses and developing their careers in China, providing them with convenient entry and exit management services in compliance with the law and regulations. This will create better conditions for promoting the integration of attracting investment, talent, and technology.

In further efforts to create a fair competitive environment, the "Several Measures" emphasize that all regions and departments must ensure consistency in the implementation of policies and regulations; they must not arbitrarily impose additional restrictions on foreign-invested enterprises; they should promote equal participation of both domestic and foreign-funded enterprises in China’s standardization efforts and government procurement bidding processes, and treat products manufactured by foreign-invested enterprises within China equally in accordance with laws and regulations; they should strengthen protection of intellectual property rights for foreign-invested enterprises, enhance mechanisms for international cooperation on intellectual property rights, support foreign-invested enterprises in broadening their financing and investment channels, and implement a unified registered capital system for both domestic and foreign-funded enterprises.

In further strengthening efforts to attract foreign investment, the "Several Measures" propose that all regions should actively carry out investment promotion activities in accordance with the requirements of the new development philosophy, and support the central and western regions as well as the northeastern region in taking on industrial transfers. The measures also aim to facilitate two-way capital flows, enhance the efficiency of capital utilization, boost the ability of foreign-invested enterprises to obtain overseas financing, and deepen reforms of the foreign investment management system. At the same time, the "Several Measures" reaffirm that local governments are permitted to formulate and implement investment attraction policies within their statutory powers, and to protect, in accordance with the law, the rights and interests of foreign-invested enterprises and their investors.

Next, the Ministry of Commerce will earnestly implement the requirements put forward at the Central Economic Work Conference—namely, “building a market-oriented and rule-of-law-based business environment, strengthening efforts to attract foreign investment, and better leveraging the important role of foreign-invested enterprises in promoting the development of the real economy.” Together with relevant departments, we will carefully ensure the effective implementation of the “Several Measures,” stabilize and expand the scale of foreign investment utilization, optimize its structure, enhance quality and efficiency, and continue to make China an attractive destination for foreign investment.