China will ramp up efforts to attract foreign investment, including further shortening the “negative list” for foreign investment, and all market access restrictions on foreign investment in manufacturing will be abolished, according to a government work report delivered by Chinese Premier Li Qiang to the annual session of the National People’s Congress (NPC) on Tuesday.
Highlighting the pursuit of higher-standard opening up and promoting mutual benefits, Li said that the country will promote alignment with high-standard international economic and trade rules, steadily expand institutional opening-up, and facilitate interplay between domestic and international markets.
“We will ensure the overall stable performance of foreign trade and foreign investment and foster new strengthens in international economic cooperation and competition,” Li said.
According to the report, market access restrictions in services sectors, such as telecommunications and healthcare, will be reduced. In addition, the country will expand the Catalog of Encouraged Industries for Foreign Investment and encourage foreign-funded enterprises in China to reinvest in China.
“We will ensure national treatment for foreign-funded enterprises and see that they can participate in government procurement, bidding, and standard-setting processes in accordance with the law and on an equal footing,” Li said.
China will also strengthen services for foreign investors and make China a favored destination for foreign investment and the country will make it easier for foreign nationals to work, study, and travel in China, Li said.
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