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Support foreign investment to participate in the "Made in China 2025"
The Catalogue for the Guidance of Foreign Investment Industries (Revised in 2017) expands the scope of encouraged policies--
Support foreign investment to participate in the "Made in China 2025"
The spokesperson of the Ministry of Commerce Sun Jiwen said on the 29th that the recently released "Catalogue for the Guidance of Foreign Investment Industries (Revised in 2017)" is another important reform for China to actively open its doors to the world and improve China's investment environment. The new "Catalogue" will be better. Support foreign-invested enterprises to play an important role in the development of the real economy.
According to reports, the 2017 edition of the catalogue reflects three characteristics: first, it further narrows the scope of examination and approval for the establishment and change of foreign-invested enterprises, except for "domestic companies, enterprises or natural persons who legally establish or control overseas mergers and acquisitions of domestic companies that have an associated relationship with them", will not involve foreign mergers and acquisitions of enterprises and changes that do not involve access to special management measures, including listed companies to introduce foreign investors strategic investment, are included in the record management. The Ministry of Commerce will also establish supporting measures at the same time, revise and promulgate the measures for the Administration of the Establishment and change of Foreign-invested Enterprises in a timely manner, and clarify the filing procedures for mergers and acquisitions and changes. This will greatly simplify the procedures for foreign mergers and acquisitions and effectively reduce institutional transaction costs.
The second is to further relax the restrictions on foreign investment in the service industry, manufacturing industry, and mining industry. Only 63 restrictive measures are retained, which is 30 fewer than the 93 restrictive measures in the 2015 edition of the "Catalog.
Third, the scope of encouraging policies has been further expanded. There are 348 encouraged items in the Catalogue. Compared with the 2015 edition of the Catalogue, there are 6 new items and 35 revised items. The research and development and manufacturing of virtual reality (VR) and augmented reality (AR) equipment, the research and development and manufacturing of key components of 3D printing equipment, and the construction of urban parking facilities have been added. The new and revised encouragement items will better promote the combination of attracting investment, technology and intelligence, continue to encourage foreign investment in areas that are in line with the direction of my country's industrial transformation and upgrading, and support foreign investment in the "Made in China 2025" strategy and innovation-driven development strategy. (Reporter Feng Qiyu)
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