The Ministry of Commerce held a press conference on November 19, and Shen Danyang, the spokesperson of the Ministry of Commerce, introduced China’s business operations from January to October and answered questions from reporters. Shen Danyang revealed that the Ministry of Commerce is currently studying the promotion of four aspects of reforms, including the further liberalization of restrictions on foreign investment in chemical, steel, automobile and other general manufacturing industries.
Shen Danyang stated that the Ministry of Commerce will focus on four aspects of reforms in the near future in terms of expanding opening up and investment access. The first is to speed up the promotion of unified domestic and foreign investment laws and regulations, and to maintain the stability, transparency, and predictability of foreign investment policies. This is a major measure for the reform of China's foreign investment management system and is conducive to the establishment of a unified, fair, and transparent investment access system. The second is to promote the orderly opening up of financial, education, cultural, medical and other service industries, and further liberalize foreign investment access restrictions in the general manufacturing fields such as iron and steel, chemicals, and automobiles, including relaxation of foreign investment in registered capital, equity ratio, business scope, etc. Limitations. Third, multinational companies are encouraged to set up regional headquarters, R&D centers, procurement centers, and financial management centers in China, and encourage foreign investment in the construction of public technology service platforms such as technology agencies, innovation incubators, productivity centers, and technology exchange markets. The fourth is to pay more attention to the introduction of advanced technology, management experience and high-quality personnel. The Ministry of Commerce will also study the establishment of a scientific evaluation system for the use of foreign capital, and guide the use of foreign investment from the perspective of increasing the scale to improving quality and comprehensive benefits.
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