Nation to incentivize foreign investors

Lujiazui, the financial center in Shanghai, forms a perfect backdrop to the Bund area. [Photo by Wang Gang/For China Daily]

China will roll out a set of initiatives aimed at incentivizing foreign investment, with the goal of enabling a greater number of global players to benefit from the dividends of the country's reform and opening-up policies, and promoting a win-win scenario, senior officials said on Friday.

The country is set to expedite the revision and release of an updated negative list for foreign investment, and particularly significant is the goal to eliminate all restrictions in the manufacturing sector, said Li Yongjie, deputy international trade representative of the Ministry of Commerce.

In addition to the manufacturing sector, China is focused on promoting orderly expansion of openness in key industries like telecommunications, internet services, education, culture and healthcare, Li told a news conference hosted by the State Council Information Office in Beijing.

China will further relax restrictions on foreign investors making strategic investments in listed companies, expanding avenues for foreign capital and steering high-quality foreign investments toward long-term commitments in the capital market, Li said.

Moreover, the country will revise the catalog of encouraged industries for foreign investment.

The updated version will feature additional categories to further incentivize foreign participation, with a particular emphasis on advanced manufacturing, productive services, digital technology, green technology applications and related fields, Li said.

The government also pledged to provide national treatment for foreign enterprises, ensuring that international companies are granted equal access and fair treatment in various aspects of business operations within the country, Li said.

In the first half of this year, the establishment of foreign-funded enterprises in China saw a robust increase, with nearly 27,000 new entities being set up nationwide. This marks a year-on-year growth of 14 percent, sustaining the trend of rapid expansion observed since 2023, the ministry said.

As the country's latest step to promote high-standard opening up, the three-day fifth Qingdao Multinationals Summit will start on Aug 27 in Qingdao, East China's Shandong province.

The summit will serve as an efficient matchmaking platform for cooperation between China and MNCs, officials said.

Amid the country's efforts to foster a more enabling environment for global players and to explore a myriad of opportunities through greater openness, the summit will host 473 MNC delegates this year, said Song Junji, vice-governor of Shandong province.

Enterprises operating in the realm of new quality productive forces have shown keen enthusiasm by signing up for participation, Song said, adding that they hail from a diverse range of industries, including next-generation information technology, biopharmaceuticals, new energy and high-end equipment.

Acting as a bridge for dialogue and collaboration, the summit has emerged as a cornerstone for fostering meaningful exchanges between China and MNCs, enabling a robust exchange of ideas and opportunities, said Li of the Commerce Ministry.