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China encourages foreign investment in more industries
Updated: December 28, 2020 19:06 Xinhua

BEIJING — China's National Development and Reform Commission and the Ministry of Commerce on Dec 28 released a revised industry catalog that names more sectors encouraging foreign investment.

Compared with the 2019 version, the list has 127 more items, a rise of 10 percent in the number of sectors encouraging foreign investment, according to the commerce ministry.

Meanwhile, up to 88 existing items have been modified to expand their coverage.

The increase is relevant particularly in the context of items related to manufacturing, producer services, and those in the central and western regions, according to the commerce ministry.

The sub-catalog of competitive industries in central and western regions encouraging foreign investment has introduced 62 new items and modified 37, it said.

New sectors added to the national-level catalog include respirators, ECMO (extracorporeal membrane oxygenation) devices, online education service and 5G mobile telecommunication technologies.

Foreign investors entering industries on the catalog will enjoy preferential policies in fields such as taxation and land use subject to laws and regulations.

The new catalog will come into effect on Jan 27, 2021, the ministry said.

To further open up its market, China unveiled new, shortened negative lists for foreign investment in late June, and until now the number of sectors that are off limits to foreign investors has been slashed to 33 from 40 in 2019.

Building on effective containment of the COVID-19 epidemic and measures to stabilize foreign investment, foreign direct investment in the Chinese mainland, in actual use, expanded 5.5 percent year-on-year in November, marking the eighth consecutive month of growth, official data showed.

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