China will continue introducing new measures to attract foreign investment and deepen high-level opening-up, according to officials from the Ministry of Commerce.
The remarks were made on Tuesday during a press conference organized by the State Council Information Office, which outlined preparations for the upcoming 7th Qingdao Summit for Multinational Corporation Leaders.
Chinese Vice Commerce Minister Yan Dong stated that during the period of the 15th Five-Year Plan, the Ministry of Commerce will firmly advance high-standard opening-up while further deepening reforms in the service sector and building a new framework for institutional opening.
According to Yan, the goal is to create new advantages and strategies for attracting foreign capital, providing stronger support for international companies to invest in China and further expand and deepen their business operations in the country.
The Ministry of Commerce noted that in the next phase, China will further improve the management system for the “negative list” governing cross-border trade in services in order to deepen the opening of the service sector.
At the same time, China plans to gradually expand independent opening-up measures in sectors such as telecommunications, internet services, education, culture, and healthcare.
Officials also highlighted that pilot projects in areas including value-added telecommunications, biotechnology, and wholly foreign-owned hospitals will be implemented steadily and prudently. These initiatives are expected to help foreign service-sector companies expand their value chains within China.
The ministry further stated that China will continue deepening nationwide pilot and demonstration programs aimed at expanding the opening of the service industry.
In addition, authorities will coordinate the strategic development and construction of key platforms, including national demonstration zones for innovative development in service trade and national digital trade demonstration zones.
The measures, officials say, reflect China’s ongoing commitment to creating a more open, dynamic, and business-friendly environment for global investors.
Source: Xueyi, Touhid & Jiniya, China Media Group (CMG).