"Completely abolishing restrictions on foreign investment access in the manufacturing sector", which is a blockbuster news announced by China at the opening ceremony of the third "the Belt and Road" International Cooperation Summit Forum. What does it mean to completely lift the restrictions on foreign investment access in the manufacturing industry? What impact will it bring? What clear signal has been released? What does "complete cancellation" mean? Chen Wenling, Chief Economist of the China Center for International Economic Exchange, Deputy Director of the Executive Bureau, and Deputy Director of the Academic Committee, told China New Finance that the comprehensive lifting of foreign investment access restrictions in the manufacturing industry means that in the future, China's manufacturing industry will continue to transform and upgrade, and foreign investment will enter without obstacles. Bai Ming, a member of the Academic Degrees Committee of the Research Institute of the Ministry of Commerce, told reporters from China New Finance and Economics that in fact, the comprehensive lifting of foreign investment access restrictions in the manufacturing industry is a gradual process. Initially, it was opened up within the pilot free trade zone, but now the scope of opening up has expanded to the whole country. From the pilot free trade zone to the national promotion and replication, the process from pilot to promotion has been completed, and it is natural. On September 27th, Vice Minister of Commerce Sheng Qiuping stated at a press conference that the negative list of foreign investment access in the pilot free trade zone has been cleared to zero in the manufacturing industry, and the next step will focus on promoting the opening up of the service industry. The Ministry of Commerce will work with relevant departments to deepen research and promote the rational reduction of the negative list of foreign investment in the pilot free trade zone. At the same time, we will promote the introduction of a negative list of cross-border service trade, leading the continuous expansion of opening up nationwide. According to the Special Administrative Measures for Foreign Investment Access (Negative List) (2021 Edition), the manufacturing industry is basically open to the outside world, with only two items remaining: "the printing of publications must be controlled by the Chinese side" and "the application of processing technologies such as steaming, frying, roasting and calcining of Chinese herbal pieces and the production of traditional Chinese patent medicines and simple preparations confidential prescription products are prohibited from investment". In addition, the "Special Management Measures for Foreign Investment Access in the Pilot Free Trade Zone (Negative List) (2021 Edition)" implemented on January 1, 2022 has been reduced to 27 items, including 17 prohibited items and 10 restricted items, achieving zero manufacturing items on the negative list of the pilot free trade zone. What impact will it bring? In Bai Ming's view, the comprehensive lifting of foreign investment access restrictions in the manufacturing industry is not only a full manifestation of China's high-level opening-up to the outside world, but also a necessity for the development of the manufacturing industry itself. He pointed out that the more openness, the more opportunities for cooperation, because the high-quality development of China's manufacturing industry needs to utilize more high-quality international factors, and comprehensive openness can optimize the allocation of global resources. Especially in the stage when China is transitioning from a manufacturing powerhouse to a manufacturing powerhouse, we should emphasize the opportunities brought by openness. Bai Ming believes that after comprehensive liberalization, there will indeed be a certain level of competitive pressure on domestic manufacturing enterprises. Under the pressure, the fittest will survive, and competitive enterprises can withstand the pressure, and even have greater development space. Because the more capable enterprises are, the more willing foreign enterprises are to cooperate with them when entering the Chinese market. This can complement each other's advantages, making them bigger and stronger. More importantly, learning the strengths of others through cooperation will add new impetus to the transformation and upgrading of China's manufacturing industry. What clear signal has been released? In the eyes of the outside world, this is an improvement in China's business environment and an increase in
Edit：Hou Wenzhe Responsible editor：WeiZe
Source：chinanews.com
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