China is set to attract more foreign investment as it continues to improve its business environment and expand market opportunities, a senior Communist Party of China (CPC) official announced on Friday.
“Opening up to the outside world is a fundamental national policy of China, and foreign enterprises are important participants and active contributors to China’s economic development,” said Han Wenxiu, executive deputy director of the Office of the Central Committee for Financial and Economic Affairs, during a press conference.
The third plenary session of the 20th CPC Central Committee has outlined plans to steadily expand institutional openness, further relax market access, and ensure national treatment and legal rights for foreign enterprises, according to Han.
He emphasized that China will proactively align with high-standard international economic and trade rules, working towards compatibility in areas such as property rights protection, industrial subsidies, environmental standards, labor protection, government procurement, e-commerce, and finance.
“We will eliminate restrictions on foreign investment in the manufacturing sector, expand the catalog of industries that encourage foreign investment, and reasonably reduce the negative list for foreign investment access,” Han added.
China will also support the development of both domestic and foreign enterprises equally, ensuring that foreign businesses receive national treatment in terms of access to resources, qualification permits, standard setting, and government procurement.
Addressing the challenges facing economic globalization, Han called on governments and enterprises worldwide to oppose unilateralism and protectionism. He stressed the shared responsibility of maintaining the security and stability of the global economic order and industrial and supply chains.
Reference(s):
China remains fertile ground for foreign investment: CPC official
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