For­eign In­vest­ment a Fo­cal Point for Chi­na’s 2020 from freemexy's blog

For­eign In­vest­ment a Fo­cal Point for Chi­na’s 2020 Two Ses­sions Con­gres­sional Event Main­tain­ing and shoring up for­eign in­vest­ment lev­els has emerged as one of the key fo­cal points of Chi­na’s re­cently con­cluded 2020 Two Ses­sions con­gres­sional meet­ings at the end of May.To get more news about Two Sessions 2020, you can visit shine news official website.
The 2020 Gov­ern­ment Work Re­port de­liv­ered by Pre­mier Li Ke­qiang at the start of the Two Ses­sions made ref­er­ence to the need to “ac­tively use for­eign cap­i­tal, greatly re­duce the for­eign in­vest­ment neg­a­tive list and un­veil cross-bor­der ser­vices and trade neg­a­tive lists” It also called for “con­fer­ring greater in­de­pen­dence con­trol over re­form and open­ing to free trade pi­lot zones, and op­er­at­ing a mar­ket en­vi­ron­ment that treats do­mes­tic and for­eign in­vested en­ter­prises in­de­pen­dently and pro­vides free com­pe­ti­tion.” On 25 May Chi­nese com­merce min­is­ter Zhong Shan called for “sta­bil­is­ing for­eign trade and for­eign cap­i­tal,” in­clud­ing sta­bil­i­sa­tion of for­eign trade, ex­pan­sion of for­eign in­vest­ment growth, and sta­bil­i­sa­tion of ex­ist­ing for­eign in­vest­ment.
Zhu Surong , head of the Shenyang branch of the Chi­nese cen­tral bank and rep­re­sen­ta­tive at the Na­tional Peo­ple’s Con­gress (NPC), sub­mit­ted a bill dur­ing the Two Ses­sions which called for “dele­tion of sep­a­rate pro­vi­sions for for­eign-in­vested banks, Sino-for­eign joint-ven­ture banks and for­eign bank branches,” as well as “fur­ther ex­pan­sion of fi­nan­cial open­ing and ex­pe­dit­ing fair mar­ket com­pe­ti­tion.” Xia Jun , man­ag­ing part­ner at EY China, said to In­ter­na­tional Fi­nan­cial News said that open­ing of do­mes­tic mar­kets was a “fun­da­men­tal state pol­icy” for China.
Ac­cord­ing to Xia China is en­cour­ag­ing more for­eign in­vest­ment in ar­eas such as ad­vanced man­u­fac­tur­ing, emerg­ing in­dus­tries, tech, clean en­ergy and en­vi­ron­men­tal pro­tec­tion, as its in­dus­trial struc­ture shifts from low-value added, en­ergy in­ten­sive and pol­lu­tion in­ten­sive sec­tors to high-value added, low-en­ergy in­ten­sity and low-pol­lu­tion sec­tors. Xia ex­pects the for­eign in­vest­ment neg­a­tive list to be greatly re­duced, as well as fore­sees sig­nif­i­cant sim­pli­fi­ca­tion of reg­u­la­tory pro­ce­dures for for­eign in­vested en­ter­prises. Over the past three years Chi­na’s for­eign in­vest­ment neg­a­tive list has shrunk from 93 items to just 40, while fur­ther re­duc­tions are ex­pected to take place with a fo­cus on ser­vices, man­u­fac­tur­ing and agri­cul­ture.