17 July 2019
China Looks to Increase Foreign Investment in Manufacturing and the Services Sector
The 2019 edition of the Catalogue of Encouraged Industries for Foreign Investment, as jointly- published by the National Development and Reform Commission and the Ministry of Commerce on 30 June, has seen a number of sectors opened up to foreign investment for the first time, including modern agriculture, advanced manufacturing, several high-tech industries and the modern services sector. The new edition also looks to optimise the geographical distribution of foreign investment, while also allowing such funding to play a wider role in nurturing China’s industrial development and technological progress.
Among the specific designated changes are the following:
- An increase in the overall number of sectors where foreign investment is to be encouraged
- Foreign investors to be encouraged to participate in the development of the manufacturing sector
- Foreign investment to be encouraged in the producer services sector
- Greater support to be given to China’s central and western regions in order to facilitate the relocation of foreign-funded businesses
The 2019 version of the Catalogue of Encouraged Industries for Foreign Investment consists of the National Catalogue of Encouraged Industries for Foreign Investment and the Catalogue of Priority Industries for Foreign Investment in Central and Western Regions, with the two superseding the Catalogue for the Guidance of Foreign Investment Industries (2017 Revision) and the Catalogue of Priority Industries for Foreign Investment in Central and Western Regions (2017 Revision) respectively.
Source: National Development and Reform Commission