China unveils measures to promote manufacturing-focused foreign investment

Chinese authorities have issued a slew of measures to facilitate foreign investment in the country with a focus on the manufacturing sector.

China will optimize the investment environment and deepen the implementation of the negative list for foreign investment to transform opening-up policies into concrete projects, according to a document jointly released by the National Development and Reform Commission and five other government organs.

The document urged facilitating the entry and exit of executives, technicians, and their families of multinationals and foreign-invested firms to the country, under the premise of sound COVID-19 pandemic prevention and control.

Concerning manufacturing development, China will support the imports and exports of foreign-invested manufacturing firms and offer services and guidance on trade and customs clearance, according to the document.

Efforts will also be made to improve the structure of foreign investment. The document encouraged foreign investors to expand their footprints in fields such as sci-tech innovation, and carbon peaking and neutrality, as well as in areas with a sound foundation of industrial development in China's central, western and northeastern regions.