In a significant move towards economic openness, China’s top economic planner announced on Sunday that all restrictions on foreign investment in the manufacturing sector will be lifted with the release of the 2024 version of the negative list for foreign investment access.
The National Development and Reform Commission (NDRC), jointly with the Ministry of Commerce (MOC), issued the updated negative list, which will come into effect on November 1. The new list reduces the number of restrictions from 31 to 29, effectively eliminating all barriers for foreign investors in the manufacturing industry.
An official from the NDRC highlighted that the release and implementation of the 2024 national negative list marks a crucial step in building a higher-level open economy. “This move demonstrates China’s commitment to further opening up and providing greater opportunities for foreign investors,” the official stated.
The NDRC will collaborate with the MOC and other departments and regions to implement the system of pre-establishment national treatment plus a negative list. They aim to ensure the timely rollout of new measures that enhance openness and facilitate foreign investment in the country.
The lifting of restrictions is expected to attract more foreign entrepreneurs and investors, offering them unprecedented access to China’s vast manufacturing sector. This development aligns with China’s broader strategy to integrate more deeply into the global economy and stimulate domestic growth through international collaboration.
Reference(s):
China to lift foreign investment access restrictions in manufacturing
cgtn.com
