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What is the signal for China to completely lift restrictions on foreign investment access in the manufacturing industry?
CNN Beijing, on October 20, 2023 said: "The restrictions on foreign investment access in the manufacturing sector will be completely lifted", which is a blockbuster news announced by China at the opening ceremony of the third "the Belt and Road" Forum for International Cooperation.
What does it mean to completely lift the restrictions on foreign investment access in the manufacturing industry? The comprehensive lifting of restrictions on foreign investment access in the manufacturing industry means that in the future, China’s manufacturing industry will continue to undergo transformation and upgrading, and foreign investment will be accessible.
On September 27th, Vice Minister of Commerce Sheng Qiuping stated at a press conference that the negative list of foreign investment access in the pilot free trade zone has been cleared to zero in the manufacturing industry, and the next step will focus on promoting the opening up of the service industry. The Ministry of Commerce will work with relevant departments to deepen research and promote the rational reduction of the negative list of foreign investment in the pilot free trade zone. At the same time, we will promote the introduction of a negative list of cross-border service trade, leading the continuous expansion of opening up nationwide.
According to the Special Administrative Measures for Foreign Investment Access (Negative List) (2021 Edition), the manufacturing industry is basically open to the outside world, with only two items remaining: "the printing of publications must be controlled by the Chinese side" and "the application of processing technologies such as steaming, frying, roasting and calcining of Chinese herbal pieces and the production of traditional Chinese patent medicines and simple preparations confidential prescription products are prohibited from investment”.
In addition, the "Special Management Measures for Foreign Investment Access in the Pilot Free Trade Zone (Negative List) (2021 Edition)" implemented on January 1, 2022 has been reduced to 27 items, including 17 prohibited items and 10 restricted items, achieving zero manufacturing items on the negative list of the pilot free trade zone.
Source: China News Network