China today published an updated catalog of industries in which foreign investment will be encouraged. Even more sectors of the Chinese economy have been opened up for foreign investors.
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The catalog in the 2022 version, presented jointly by the National Development and Reform Commission of the PRC and the Ministry of Commerce of the PRC, includes 1474 items. 239 new positions have been added to it, and 167 existing ones have been adjusted.
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In particular, the revision touched upon positions related to the manufacturing sector and industrial services, and is aimed at optimizing the scheme for locating foreign investments.
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In the latest version of the national level sub-catalog, attention is focused on the high-quality development of the manufacturing industry and technological upgrading. Among the added sectors are professional design, technical services and development.
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New sectors have also been added to the subdirectory for the central and western regions of China.
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The expansion of the catalog represents an important step in promoting high-level openness, stabilizing foreign investment and streamlining its structure, said a representative of the State Committee for Development and Reform Affairs, adding that it will raise expectations and strengthen the confidence of foreign investors.
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The new catalog will come into effect on January 1, 2023.
