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Foreign investment catalog expand sci-tech innovation items

Updated: 2022-06-27

The recent executive meeting of the State Council proposed speeding up the revision of the Catalogue of Industries for Encouraging Foreign Investment in order to guide foreign investment in advanced manufacturing and technological innovation,as well as support foreign investment to establish high-tech R&D centers.

Shu Yuting, spokesperson of the Ministry of Commerce, remarked that in accordance with the deployment of the CPC Central Committee and the State Council, the Ministry of Commerce and the National Development and Reform Commission are working with relevant departments to study, revise and expand the catalogue, which solicited opinions from May 10 to June 10. 

This revision is based on accelerating the construction of a new development pattern, focusing on promoting the high-quality development of the manufacturing industry, improving the development level of the producer service industry, and promoting the coordinated development of the central and western regions, increasing the areas where foreign investment is encouraged.

Recent data shows that from January to May this year, the actual use of foreign capital across the country increased by 17.3 percent year-on-year. Among them, the high-tech manufacturing industry increased by 32.9 percent, and the high-tech service industry increased by 45.4 percent.