China released an action plan to promote high-level opening up and attract foreign investment
Recently, the Office of the State Council of the People's Republic of China released an action plan to steadily promote high-level opening up and more actively attract and utilize foreign investment.
The action plan emphasizes that foreign investment is an important force for promoting the process of Chinese-style modernization and the overall prosperity and development of both the Chinese and global economies.
To more vigorously attract and utilize foreign investment, it is necessary to fully, accurately and comprehensively implement the new development concept and create a first-class internationalized business environment that respects market principles and the rule of law, thereby strengthening foreign investors' confidence in their ability to develop in China, the action plan said.
The document puts forward 24 measures in five areas, including enhancing market access, making foreign investment more attractive, creating a level playing field, promoting the inflow of innovative factors, and better aligning China's current regulations with international trade and economic rules of high standards.
According to the document, the country will prudently reduce the negative list for foreign investment access and launch pilot programs to lower the threshold for foreign investors in science and technology innovation.