China to encourage foreign investment in more industries

0 Comment(s)Print E-mail Xinhua, May 11, 2022
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A staff member works on an assembly line at a farm machinery manufacturing company in Jining City, east China's Shandong Province, Feb. 15, 2022. [Photo/Xinhua]

China will further expand the industry catalog of sectors encouraging foreign investment, authorities said.

The new list will add 238 more items, while up to 114 existing ones will be modified with expansion, said a notice issued by China's National Development and Reform Commission and the Ministry of Commerce (MOC).

The increase is particularly relevant to items related to manufacturing, producer services, and those in the central and western regions, said the notice.

The sub-catalog of competitive industries in the central and western areas encouraging foreign investment will introduce 188 new items, having modified 52.

New items added to the national-level sub-catalog will include components and parts and equipment manufacturing in the manufacturing sector. It will also add professional design, technical services, and development in the producer services sector.

Foreign direct investment into the Chinese mainland, in actual use, expanded 25.6 percent year on year to 379.87 billion yuan in the first quarter of the year, the MOC said.

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