China’s Ministry of Commerce (MOC) is set to introduce a new batch of policies to stabilise foreign investment.
Shanghai Securities News reported on Wednesday quoting an official.
Guo Tingting, assistant commerce minister of China, at a news conference held Tuesday, said that the new policies would include inauguration of a new version of the industry catalog that encourages foreign investment.
He said that the policy would further expand the scope to encourage foreign investment in advanced manufacturing, scientific and technological innovation.
This he said includes modern services, and guiding foreign investors to increase investment in manufacturing, research and development in China.
Tingting said that MOC would also promote the establishment of more comprehensive pilot areas for further opening-up in the service sector.
“It will also introduce more pilot measures for reform and innovation, replicate and promote the new pilot results, and propel institutional opening in the service sector nationwide.”
At present, the comprehensive trial in expanding the opening-up in the service sector has been carried out in Beijing, Tianjin, Shanghai, Hainan and Chongqing.
He said that in the first seven months of this year, the above-mentioned five places attracted 33.3 billion dollars of foreign investment in the service sector, up by 27.6 per cent year-on-year.
Also, 13.6 percentage points higher than the national level, and accounting for 35.8 per cent of the national total foreign investment attracted by the sector.
The ministry said to stabilise foreign investment, it would also further improve services for foreign investment.
According to the ministry, it will strengthen regular communication and exchanges with foreign-funded enterprises, foreign business associations.
This is through various ways such as seminars and video conferences to respond to the demands of foreign-funded enterprises.
