China to further reduce negative list of market access and expand foreign investment areas: NDRC
Published: Mar 08, 2021 02:07 PM
Tourists admire the skyline view of Lujiazui area at the Bund in Shanghai, east China, Jan. 6, 2020. (Xinhua/Wang Xiang)

Tourists admire the skyline view of Lujiazui area at the Bund in Shanghai, east China, Jan. 6, 2020. (Xinhua/Wang Xiang)

China will further reduce the negative list for market access, continue to encourage foreign investment in more areas and fully implement national treatment for foreign investment after market entry, said China's top economic planner on Monday.

"China will further reduce the negative list for foreign investment. In recent years, the number of restrictive measures has been reduced by nearly two thirds. A series of major opening-up measures have been introduced in finance, automobile and other areas, and the manufacturing sector has been basically opened up," Ning Jizhe, vice chairman of the National Development and Reform Commission (NDRC), told a press briefing in Beijing on Monday.

China will also continue to encourage foreign investment in more areas, and actively guide foreign investment in advanced manufacturing, high and new technology, energy conservation and environmental protection, Ning added.

The new list of industries to encourage foreign investment became effective in January this year; 127 new items were added to the list and 88 items were modified, compared to 2019's version. For example, foreign investors are encouraged to invest in online education, online medical care, 5G technology and blockchain technology.

According to the NDRC, more foreign investment is encouraged in research and development, modern logistics and information services, and more investment in the central and western regions and northeast China, so as to better leverage the role of foreign investment in ensuring the stability of industrial and supply chains.

"In improving market access, we will improve the mechanism for dynamic adjustment of the negative list. This year, we will revise and promulgate the negative list on market access for 2021, and continue to remove hidden barriers to market access. We will formulate and introduce special measures to ease market access in South China's Hainan Province and Shenzhen in South China's Guangdong Province," said Zhao Chenxin, secretary general of NDRC.

According to statistics released, China has promoted the implementation of major foreign investment projects. So far, a total of $110 billion has been invested in four batches of major foreign-funded projects in China.

"This year, we will launch the fifth batch of major foreign-funded projects, and provide policy support, including land use for industrial planning, environmental assessment and energy utilization," said Ning.

On the question of the Export Control Law, the NDRC official said that the purpose of the law is to control the export of controlled items such as military-use goods. Domestic and foreign enterprises are treated equally in terms of the scope of control and control measures. There is no impact on the normal export of foreign-funded enterprises.

Global Times