The General Office of the State Council issued the Action Plan for Solidly Promoting High-level Opening-up and Greater Efforts to Attract and Utilise Foreign Investment

A few days ago, the General Office of the State Council issued the "Action Plan for Solidly Promoting High-level Opening to the Outside World and Greater Efforts to Attract and Utilise Foreign Investment" (hereinafter referred to as the "Action Plan"). The Action Plan emphasizes that foreign investment is an important force in participating in Chinese-style modernization and promoting the common prosperity and development of the Chinese economy and the world economy. Greater efforts to attract and utilize foreign investment must adhere to the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era., Accurately and comprehensively implement the new development concept, create a market-oriented, legalized, and international first-class business environment, and consolidate the confidence of foreign investment in China.
The Action Plan proposes 24 measures in 5 areas. The first is to expand market access and raise the level of foreign investment liberalization. Reasonably reduce the negative list of foreign investment access, carry out pilot projects to relax foreign investment access in the field of scientific and technological innovation, expand access to foreign financial institutions in the field of banking and insurance, expand the scope of foreign financial institutions to participate in the domestic bond market, and further implement pilot projects for domestic investment by qualified foreign limited partners. The second is to increase policy efforts to enhance the attractiveness of foreign investment. We will expand the list of industries that encourage foreign investment and the list of foreign-funded projects, implement tax support policies, increase financial support, strengthen energy security, and support the central, western and northeastern regions to undertake industrial transfer. The third is to optimize the fair competition environment and do a good job in serving foreign-invested enterprises. We should clean up the behaviors and policies and measures that violate fair competition, improve the bidding system, participate in the revision of the standard system fairly, improve the scientific level of administrative law enforcement, continue to build the brand of "invest in China", and strengthen the services of foreign-invested enterprises. The fourth is to smooth the flow of innovation factors and promote innovation cooperation between domestic and foreign enterprises. Support the data flow between foreign-invested enterprises and their headquarters, facilitate the exchange of international business personnel, optimize the management of foreigners' work and residence permits in China, and support cooperation and innovation between domestic and foreign institutions. Fifth, improve domestic regulations and better connect with international high-standard economic and trade rules. We will strengthen the protection of intellectual property rights, improve the rules for cross-border data flow, actively promote the negotiation and implementation of high-standard economic and trade agreements, and intensify the pilot project of docking international high-standard economic and trade rules.
The "Action Plan" requires that all regions and departments should take the initiative and pay close attention to implementation, so as to effectively enhance the sense of gain of foreign-invested enterprises. All regions should make greater efforts to create an environment and improve services, take the practical problems concerned by foreign-invested enterprises as a breakthrough, and be good at solving contradictions with innovative thinking. All departments should pay close attention to the detailed implementation of various tasks, formulate timetables and road maps, and promote the implementation of policy measures. The National Development and Reform Commission should strengthen guidance and coordination with relevant departments, track and evaluate the implementation effects of various policies, sum up experience, and replicate and promote them in a timely manner.

Source: Xinhua News Agency