The Ministry of Commerce, the National Development and Reform Commission and the Ministry of Finance jointly unveiled an action plan for stabilizing and optimizing foreign investment on Monday.

Centering on five key areas—expanding market access, boosting the facilitation of foreign investment, upgrading investment promotion capacity, improving the service guarantee system for foreign-invested enterprises, and refining foreign investment administration—the plan puts forward 15 specific measures.

Targeting wider market access in the service sector, financial industry, pharmaceutical industry and other sectors, the plan sets forth relevant arrangements. It calls for steadily rolling out more pilot opening-up programs for vocational skills training institutions, vocational colleges and high-standard universities focusing on science, engineering, agriculture and medicine.

ALSO READ: China expands push for investment

Foreign-funded institutions will be allowed greater access to risk management instruments including treasury bonds and futures to strengthen financial risk management. Qualified foreign-funded institutions will be permitted to conduct fund investment advisory business in accordance with the law.

Authorities will accelerate research and formal approval procedures to expand the geographic scope of pilot opening-up initiatives for biotechnology and wholly foreign-owned hospitals.

To address concerns including foreign-funded mergers and acquisitions, cross-border data flows and domestic reinvestment by foreign investors, the plan takes targeted steps to further streamline foreign investment facilitation measures.

It specifies expediting the revision and promulgation of provisions governing mergers and acquisitions of domestic enterprises by foreign investors. Pilot zones including pilot free trade zones and national pilot cities for opening-up of the service sector are encouraged to formulate negative lists for outbound data transfers covering more sectors.

READ MORE: Wider opening-up to draw more foreign investment to China

Preferential tax policies for overseas investors making direct reinvestments with distributed profits will be fully implemented, and supporting policies for foreign-funded R&D centers will be refined.

The plan also lays out concrete initiatives for advancing the "Invest in China" brand campaign, conducting standardized foreign investment project recruitment in a coordinated manner, fully granting national treatment to foreign-invested enterprises, supporting foreign-funded firms in participating in consumption-boosting campaigns, and beefing up service guarantees for major and key foreign investment projects.