17 de July de 2024 - zeumat
China is taking a further step to open its vast domestic market to foreign companies. With a series of measures that include removing all restrictions on foreign investment in manufacturing and expanding access to sectors such as healthcare and telecommunications, the Asian country is seeking to strengthen its economy and attract more investment.
During a business dialogue organised by China Media Group (CMG), Ling Ji, Vice Minister of Commerce, said that the Ministry of Commerce (MOFCOM) will collaborate with various departments and regions to promote the ‘投资中国 (Pinyin: Tóu Zī Zhōng Guó In English: Invest in China)’ brand.
The aim is to increase efforts to attract and utilise foreign investment through various actions, such as:
Expanding access to foreign investment.
Reducing the negative list for access to foreign investment.
Removing restrictions in the productive sector.
Increasing access in sectors such as health care and telecommunications.
Encourage foreign investment in key industries.
In addition, regulations for strategic investments by foreign investors in listed companies will be reviewed, expanding the space for foreign investment.
Xin Guobin, Vice Minister of the Ministry of Industry and Information Technology (MIIT), also highlighted the ministry’s commitment to high-level openness and support for multinational enterprises in China. MIIT is implementing measures to remove restrictions in the manufacturing industry and has launched a pilot project to open up value-added telecommunications services to foreign companies, marking a new chapter of openness in the industrial and information technology sectors.
The MIIT is committed to continuously improving the business environment, offering equal treatment to foreign companies and supporting them in participating in key research and development standards and projects.
China’s renewed effort to attract foreign investment has generated confidence among international companies. During the first five months of 2024, the number of new foreign-funded enterprises in China increased by 17.4% year-on-year, reaching a total of 21,764. Although the total amount of foreign investment has declined, investment in specific sectors such as high-tech manufacturing has grown considerably. For example, foreign investment in consumer equipment manufacturing increased by 332.9%, and in the professional and technical services sector by 103.1%.
In terms of investment origin, Germany and Singapore have shown a notable increase in their investments in China, with increases of 24.2% and 16.2%, respectively.
These measures not only underline China’s commitment to openness and economic development, but also provide an excellent opportunity for foreign companies seeking to expand in one of the world’s most dynamic markets. Foreign business confidence in the Chinese market continues to improve, and the new policies will surely continue to attract investment and strengthen the overall economy.
Written by: Wenyang Zhong
Source: People.cn
