Clearer rules to boost foreign investment
Print Edition
CHINA will attract more foreign investors by being clearer on the rules that apply to them, according to a communique released on after the plenary session.
During their four-day meeting, leaders decided on the nationwide adoption of the “negative list” model that clearly states sectors and businesses that are off limits to foreign investment.
This will help ensure protection of foreign investors’ rights and better allocate their funding, the document said, adding that the service sector should be further opened to foreign investment, while systems to promote service trade should be improved.
Recognizing the service sector’s huge growth potential, China has taken gradual steps to accelerate its development, liberalizing the finance, education, culture and medical treatment sectors in particular. In the first three quarters of this year, the sector accounted for 51 percent of GDP.
Meanwhile, China will keep promoting the Belt and Road Initiative by enhancing cooperation with countries and regions along the route, and participate in global industrial and equipment manufacturing cooperation, the document said.
It will also continue to open itself up to the world. In the five years from 2016, the country will develop an open economy at the higher level, and participate more in global governance and trade “so as to establish a far-ranging community of shared interests,” according to the communique issued at the meeting’s end.
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