China will remain committed to high-standard opening-up during the 15th Five-Year Plan period (2026-30), and share its massive development opportunities with foreign-invested enterprises across various sectors, the Ministry of Commerce said in a news release on Thursday.
At a time when unilateralism and protectionism are on the rise, a market that is fair, just and rules-based has become a scarce global resource, Vice-Minister of Commerce Ling Ji said at a roundtable with foreign enterprises during the ongoing China International Import Expo in Shanghai.
The recently adopted recommendations for the next five-year plan have enhanced the predictability of China's economic and social development for the period ahead, Ling added.
The document's emphasis on advancing high-quality development and expanding high-standard opening-up will provide greater stability and positive prospects for foreign businesses operating in China, he said.
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Ling added that China will further expand market access in the service sector, advance key foreign-funded projects, ensure foreign-funded firms' equal participation in government procurement, deliver on tax incentives for reinvestment, strengthen intellectual property protection, and work to create a first-class, market-oriented, rules-based and internationalized business environment.
Foreign business representatives at the roundtable expressed their commitment to expanding long-term investments and ramping up R&D innovation in China, enhancing localization efforts, and contributing to the country's high-quality development with advanced technologies and high-standard products and services, according to the news release.
