Weekly policy snapshot of Chinese economy

0 Comment(s)Print E-mail Xinhua, June 30, 2019
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BEIJING, June 30 (Xinhua) -- The following are the key takeaways of the major economic decisions announced by the Chinese authorities in the past week:

-- New negative lists for foreign investment

China on Sunday rolled out revised negative lists for foreign investment market access, introducing greater opening-up and allowing foreign investors to run majority-share-controlling or wholly-owned businesses in more sectors.

-- New industry catalogue for encouraging foreign investment

The country on Sunday unveiled a revised catalogue of industries that encourage foreign investment. The catalogue includes an industry catalogue for encouraging foreign investment nationwide and a catalogue of advantageous industries for foreign investment in the country's central, western and northeastern regions.

It is expected to give better play to the positive role of foreign investment in China's industrial development, technological progress and structural optimization.

-- Guideline to boost rural industries

The State Council has issued a guideline to boost rural industries in a bid to vitalize the country's vast countryside.

Rural areas should seek integration of the development of agriculture, industry and the tertiary sector, whose added value should enjoy a significant rise in its share of township GDP within five to ten years.

Efforts should be made to strengthen local industries such as produce processing and rural tourism, promote town-level industrial clusters, nurture more agricultural brands and improve policy support.

-- Stronger support to smaller firms' financing

China will further cut the real interest rate on loans to micro and small enterprises, pilot reform measures regarding financial services for private, micro and small firms, support more intellectual property pledge financing and credit supply for the manufacturing sector, and promote innovation and the development of the real economy. Enditem

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