Utilizing foreign investment to stabilize and promote optimization, multiple departments explain policy measures in detail

The Ministry of Commerce, together with the National Development and Reform Commission and the Ministry of Finance, recently jointly issued the "Action Plan for Utilizing Foreign Investment to Stabilize and Promote Excellence", which was released to the public on the 22nd. The State Council Information Office held a press conference on the same day to introduce relevant policies and measures.

Ling Ji, Deputy Minister of Commerce and Deputy Representative for International Trade Negotiations, introduced that in order to shape new advantages in attracting foreign investment during the 15th Five Year Plan period, the Ministry of Commerce, together with 27 departments including the National Development and Reform Commission and the Ministry of Finance, has focused on common issues of concern to foreign-funded enterprises, formulated new measures to stabilize foreign investment, and formed an action plan.

The action plan proposes 15 measures focusing on expanding market access, improving the convenience of foreign investment, enhancing investment promotion level, improving the service guarantee system for foreign investment, and optimizing foreign investment management.

Currently, the restrictions on foreign investment access in the manufacturing industry have been fully cleared. One major feature of the action plan is to focus on the service industry and expand market access and opening up in areas such as education, finance, and healthcare.

Ling Ji introduced that the action plan focuses on deepening the opening up of the service industry. Based on the pilot opening up of biotechnology, value-added telecommunications, and wholly-owned hospitals in 2024, the plan also includes steadily expanding the pilot opening up of vocational skills training institutions, vocational colleges, and high-level science, engineering, agriculture, and medicine universities to the outside world, and supporting Beijing to enhance the construction of a comprehensive demonstration zone for expanding the opening up of the national service industry. Focusing on improving the openness of financial services, we will support more foreign institutions to use risk management tools, including treasury bond futures, to strengthen financial risk management; Support foreign-funded enterprises to carry out fund investment advisory services in accordance with the law.

Wang Ya, the head of the Foreign Investment Management Department of the Ministry of Commerce, said that the action plan further responds to the concerns of foreign pharmaceutical companies on the basis of existing policies. On the basis of the pilot project of segmented production of biological products, it is further proposed to study and formulate relevant rules to carry out cross-border segmented production of chemical drugs; Secondly, based on the existing pilot areas for biotechnology and foreign-owned hospitals, we will research and promote further expansion of the pilot implementation scope; Thirdly, support insurance companies to include more innovative drugs and devices in the scope of commercial insurance, and continue to encourage high-quality innovative drugs and devices to enter the Chinese market; Fourthly, measures will be taken to facilitate the entry of drugs produced by foreign-funded enterprises into drug retail channels.

The action plan clearly supports foreign-funded enterprises to actively participate in a series of consumer promotion work such as green consumption and the construction of international consumption center cities.

From January to May this year, the wholesale and retail industry attracted a year-on-year increase of 22.6% in foreign investment; Foreign car brands account for over 35% of the new sales driven by the trade in of consumer goods; Home appliances trade in, digital and intelligent products are purchased, and foreign brands account for over 13%; In the past five years, five international consumer center cities have introduced more than 13000 domestic and foreign brand first stores and flagship stores... Ling Ji listed a set of data at the press conference and stated that "boosting consumption has become a new track for foreign investment in China's development

Ling Ji said that equal support will be given to foreign-funded enterprises to participate in policies such as trade in of consumer goods, exit tax refund, and pilot programs for prize invoices. Various practical measures such as visa free transit, exit tax refund, and foreign-related payments will also be taken to continuously optimize the international consumption environment. Linking the "Invest in China", "Buy in China", and "Export to China" brand activities to provide broader cooperation opportunities for foreign-funded enterprises. Support foreign-funded enterprises to participate in the renovation and upgrading of urban commercial districts, and hold events such as debut performances.

The issues of equal participation in government procurement, access and operation permit have received widespread attention from foreign-funded enterprises. Clear action plan and comprehensive implementation of national treatment for foreign-funded enterprises.

Equal treatment of all types of business entities, including foreign-funded enterprises, is a fundamental principle that the Chinese government procurement has always adhered to. "Zheng Yong, the head of the Treasury Department of the Ministry of Finance, said that the Ministry of Finance will accelerate the reform of the government procurement system in accordance with the requirements of the" 15th Five Year Plan "and the action plan, fully implement the principle of fair competition, continuously optimize the business environment for government procurement, and better ensure equal participation of domestic and foreign-funded enterprises in government procurement activities.

Jing Qin, the head of the Foreign Investment Department of the National Development and Reform Commission, stated that the commission will focus on institutional opening up and work with relevant parties to orderly expand China's commodity market, service market, and other opening-up to the outside world. The commission will achieve compatible and interconnected rules and regulations in areas such as property rights protection, government procurement, and finance.

At the same time, we will focus on easing market access, promote the orderly expansion of opening up of telecommunications, the Internet, education, culture, medical care and other fields, and steadily implement pilot opening projects such as value-added telecommunications, biotechnology, and foreign-funded hospitals; Focusing on maintaining fair competition, we will effectively safeguard the national treatment of foreign-funded enterprises and protect their legitimate rights and interests in terms of factor acquisition, qualification licensing, and standard setting.

When it comes to building the brand influence of "Invest in China", Ling Ji introduced that starting from 2023, the Ministry of Commerce has established a roundtable meeting system for foreign-funded enterprises, and has held a total of 50 meetings this month, which is a service window for targeted relief and problem-solving for foreign-funded enterprises; Establish a special team for key foreign-funded projects, which has solved nearly 3000 difficulties and problems faced by foreign-funded enterprises.