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China’s Pro-Foreign Investment Measures Boost Market Appeal

03-21-2024

A report from Xinhua on Mar. 21st, 2024:


China has announced a new set of measures aimed at enhancing the appeal and effective utilization of foreign investment, as part of the country’s efforts to harness and share its huge market potential.

An action plan comprising 24 specific pro-foreign investment measures was unveiled Tuesday by the State Council, China’s cabinet, with targeted measures to expand market access, enhance appeal to foreign investment, foster a level playing field, facilitate the flow of innovation factors, as well as better align domestic rules with high-standard international economic and trade rules.

The country will shorten its negative list for foreign investment reasonably, and launch pilot programs to relax foreign entry thresholds in scientific and technological innovation, according to the action plan.

China will also expand access for foreign financial institutions to the banking and insurance sector and increase the scope of their participation in the domestic bond market.

Last year, the State Council also introduced a raft of measures to optimize the investment environment for overseas firms. A recent evaluation of the measures showed that over 60 percent of the policies have been implemented or achieved notable progress, with more than 90 percent of the surveyed foreign firms giving a positive review.

The launch of the new policy package to attract foreign investment came after the foreign direct investment in the Chinese mainland in actual use dropped 8 percent year-on-year in yuan terms.

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