China keeps on opening up to foreign businesses
Catalogue of Industries for Encouraging Foreign Investment is being revised: what articles are newly added or deleted?
The Catalogue of Industries for Encouraging Foreign Investment，which is one of the main bases for foreign investors and foreign-invested enterprises to enjoy preferential treatment is being revised.
On May 10, the National Development and Reform Commission and the Ministry of Commerce released the 2022 Catalogue of Industries for Encouraging Foreign Investment (Draft) for public comments. Compared to the Catalogue of 2020 version, the draft catalogue optimizes the structure and increases the volume.
According to the drafting note, the main revisions to the draft catalogue for public comments are as follows: Firstly, foreign investment in manufacturing will be continuously encouraged. The national catalogue adds or expands articles on components, parts and equipment manufacturing. The second is to continue to encourage foreign investment in productive services. The national catalogue adds articles on professional design, technical services and development. Thirdly, foreign investment in the central and western regions and the northeast region will continue to be inspired. Articles based on the advantages of labor force and special resources of each region and the need to attract investment have been added to the central and western catalogue.