China is set to become an even more attractive destination for foreign investors as the business environment continues to improve, a senior Communist Party of China (CPC) official announced on Friday.
Han Wenxiu, executive deputy director of the Office of the Central Committee for Financial and Economic Affairs, emphasized that opening up to the outside world remains a fundamental national policy. He highlighted the crucial role that foreign enterprises play as important participants and active contributors to China's economic development during a press conference.
The third plenary session of the 20th CPC Central Committee has laid out plans to steadily expand institutional openness, further relax market access, and ensure national treatment and legal rights for foreign enterprises, Han stated.
China aims to align proactively with high-standard international economic and trade rules, achieving compatibility and harmonization in areas such as property rights protection, industrial subsidies, environmental standards, labor protection, government procurement, e-commerce, and finance.
In a move to encourage foreign investment, China will work to eliminate restrictions in the manufacturing sector, expand the catalog of industries that welcome foreign investment, and reasonably reduce the negative list for foreign investment access, Han added.
Furthermore, China is committed to supporting both domestic and foreign enterprises equally. This includes ensuring that foreign enterprises receive national treatment concerning access to resources, qualification permits, standards setting, and government procurement.
Han also addressed the current challenges facing economic globalization, noting that opposing unilateralism and protectionism is essential. He underscored the shared responsibility of governments and enterprises worldwide to maintain the security and stability of the global economic order, as well as industrial and supply chains.
Reference(s):
China remains fertile ground for foreign investment: CPC official
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