BEIJING: Motivated by China’s complete removal of market access restrictions for foreign investors in the manufacturing sector, executives from multinational corporations attending the seventh China International Import Expo said they will deploy more resources in the country, with a particular focus on high-end manufacturing.
This year’s CIIE, scheduled in Shanghai from Tuesday to Nov 10, will debut more than 400 new products, technologies and services across advanced sectors, including high-end equipment, advanced materials and marine engineering products, according to the Ministry of Commerce.
The latest edition of China’s national negative list for foreign investment, which took effect on Friday, has removed the last two manufacturing-related restrictions, further opening the sector to global investors, according to the National Development and Reform Commission.
Attracted by China’s innovation capability, business model transformation and bilateral and multilateral free trade deals, many global manufacturers are increasingly inclined to invest in new innovation centers, expand production capacities and advance digital transformation initiatives within the country, said Sun Xiao, secretary-general of the China Chamber of International Commerce. –The Daily Mail-China Daily news exchange item
