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Monday, December 28, 2020, 23:02
China expands list of sectors for attracting foreign investment
By Xinhua
Monday, December 28, 2020, 23:02 By Xinhua

A gantry crane handles an export goods container at the Nantong Tonghai port, Jiangsu province, on March 22, 2020. (XU CONGJUN / FOR CHINA DAILY)

BEIJING - China on Monday released an expanded list of industries in which it will seek to encourage foreign investment, with the total number of areas rising to 1,235 compared with 1,108 in the previous list.

China will seek to attract foreign investment in advanced manufacturing including artificial intelligence, semiconductors and 5G-related technology development, according to a revised list issued by the National Development and Reform Commission and the Ministry of Commerce.

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The new list consists of two sub-catalogs - one applies to the whole nation and one is applicable to the country's central and western regions.

Compared with the 2019 version, the revised catalog for nationwide implementation now contains 65 newly added items and 51 modified items, while the catalog for the central and western regions features 62 new items, according to the NDRC.

The revision aims to give better play to the positive role of foreign investment in industrial and supply chains, said the Commerce Industry

New sectors added to the national-level sub-catalog include respirators, ECMO (extracorporeal membrane oxygenation) devices, online education service and 5G mobile telecommunication technologies.

The revision aims to give better play to the positive role of foreign investment in industrial and supply chains, further encourage foreign investment in advanced manufacturing, producer services and competitive industries in the central and western regions, said the ministry.

Foreign investors entering industries on the catalog will benefit from preferential policies in fields such as taxation and land use subject to laws and regulations.

The new catalog will come into effect on Jan 27, 2021, the ministry said.

To further open up its market, China unveiled new, shortened negative lists for foreign investment in late June. The number of sectors that are off-limits to foreign investors has been slashed to 33 from 40 in 2019.

Building on effective containment of the COVID-19 epidemic and measures to stabilize foreign investment, foreign direct investment in the Chinese mainland, in actual use, expanded 5.5 percent year on year in November, marking the eighth consecutive month of growth, official data showed.

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