Support extensive participation of foreign investment in "Made in China 2025"

Time:

2022-11-05 16:25

“Catalogue of Industries for Guiding Foreign Investment (2017 Revision)” Expands the Scope of Encouraged Industries —

Supporting extensive foreign investment participation in “Made in China 2025”

　　Sun Jiwen, spokesperson for the Ministry of Commerce, stated on the 29th that the recently released “Catalogue of Industries for Guiding Foreign Investment (2017 Revision)” is another significant reform for China to proactively open its doors to the world and improve its investment environment. The new “Catalogue” will better support foreign-invested enterprises in playing an important role in the development of the real economy.

　　According to reports, the 2017 version of the “Catalogue” exhibits three characteristics: First, it further narrows the scope of approval for the establishment and alteration of foreign-invested enterprises. Except for “domestic companies, enterprises, or natural persons acquiring domestic companies with related interests through companies legally established or controlled offshore,” foreign mergers and acquisitions involving the establishment and alteration of enterprises that do not involve special access management measures, including strategic investments by foreign investors in listed companies, will all be subject to filing management. The Ministry of Commerce will also concurrently establish supporting measures and revise and issue the “Administrative Measures for the Filing of Establishment and Alteration of Foreign-Invested Enterprises” in due course, clarifying the filing procedures for mergers, acquisitions, establishment, and alteration of enterprises. This will significantly simplify procedures for foreign M&A enterprises and effectively reduce institutional transaction costs.

　　Second, it further relaxes foreign investment access restrictions in the service, manufacturing, and mining industries, with only 63 restrictive measures retained, a reduction of 30 measures compared to the 93 restrictive measures in the 2015 version of the “Catalogue.”

　　Third, it further expanded the scope of encouraged policies. The “Catalogue” contains a total of 348 encouraged items. Compared to the 2015 version of the “Catalogue,” 6 new items and 35 modified items were added, including the research and development and manufacturing of virtual reality (VR) and augmented reality (AR) equipment, research and development and manufacturing of key components for 3D printing equipment, and urban parking facility construction projects. The newly added and modified encouraged items will better promote the combination of attracting capital, technology, and talent, continue to encourage foreign investment in fields aligned with China's industrial transformation and upgrading, and support extensive foreign investment participation in the “Made in China 2025” strategy and the innovation-driven development strategy. (Reporter Feng Qiyu)

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