BUSINESS China's commerce ministry vows better support for foreign manufacturing investment

BUSINESS

China's commerce ministry vows better support for foreign manufacturing investment

China Daily

06:41, November 25, 2022

The Ministry of Commerce Thursday pledged to better support multinationals in investing in China's manufacturing sector.

An employee works at a plant in Xiaoshan district of Hangzhou, Zhejiang province, on June 27. (Photo: Xinhua)

Foreign investment is significant to China's manufacturing upgrades and integration into global industrial and supply chains, the ministry's spokesperson, Shu Jueting, told a regular news conference.

The ministry recently published policy documents that contain 15 specific measures to encourage foreign manufacturing investment, including post-establishment national treatment and better financial services and financing support.

The new catalog of industries where foreign investment will be encouraged has 1,474 items of sectors, up nearly 20 percent from that of 2020. Some processing trade sectors in the country's central and western regions and high-tech manufacturing sectors are also added to the list.

The ministry will step up efforts to ensure the precise implementation of favorable policies and provide foreign businesses with better services, Shu said.

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