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China vows to boost foreign investment
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CHINA is opening more sectors to foreign investment along with measures to level the playing field.
Chaired by Premier Li Keqiang, an executive meeting of the State Council approved a new guideline to further attract foreign investment and advance China’s opening-up.
“We should take measures with great effectiveness in attracting foreign capital,” Li stressed.
According to the new guideline, foreign investment access hurdles will be dropped in a number of manufacturing sectors, including rail transport, motorbikes and ethanol fuels. Foreign capital will have access to energy, water conservancy, environmental protection and utilities via franchise agreements.
Catalog for industrial access for foreign investors will be amended to match the new measures. Foreign capital will be encouraged to enter the high-end manufacturing industry, as well as manufacturing-related services, such as industrial design and modern logistics.
Accounting and auditing, architecture design and rating services will be open to foreign investment for the first time. Foreign funded firms will be cleared to join the national science and technology program as equally as domestic firms, and enjoy favorable policies designed for the “Made in China 2025 Strategy”.
The new guideline emphasizes equal treatment for foreign investors, and no additional restriction is allowed.
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