BEIJING: China’s latest move to open its market to foreign investment in the manufacturing sector will contribute to high — quality development, and ensure the stability and security of global industrial and supply chains, market watchers and business leaders said.
Right after the conclusion of the 20th National Congress of the Communist Party of China last month, the National Development and Reform Commission, which is the country’s top economic planner, and five other central government departments jointly released a notice to encourage foreign investment in high-end equipment, basic components and key parts for advanced manufacturing, as well as high-tech industries. The government will take further steps to facilitate the border entry and exit of executives and technicians of multinational companies and their families in accordance with national COVID-19 pandemic prevention and control policies, according to the notice. China will also encourage foreign investment in research and development, design and modern logistics in the service industry, as well as in innovation and applications related to new energy, green and low-carbon technologies, the notice said. Wang Wen, executive dean of the Chongyang Institute for Financial Studies of the Renmin University of China in Beijing, said these policy measures reflect China’s unwavering determination to expand high-level opening-up, optimize foreign investment structure and attract more global stakeholders to invest and develop in the country.
–The Daily Mail-China Daily news exchange item
