The General Office of the State Council recently issued the Action Plan for Solidly Promoting High Level Opening up to the Outside World and Strengthening Attraction and Utilization of Foreign Investment. The State Council Information Office held a routine briefing on State Council policies on the 20th to introduce relevant information. Wu Hao, Secretary General of the National Development and Reform Commission, said that the introduction of the action plan once again demonstrates China's high importance to attracting foreign investment, strengthening positive interaction with the world economy through high-level opening-up, and enhancing the confidence of foreign investors in investing in China through practical actions. Expanding Space: 24 measures have been proposed in 5 aspects for business action plans related to healthcare, telecommunications, insurance, bonds, and other fields, with "expanding market access and improving the level of foreign investment liberalization" ranking first among the 5 aspects. It is clearly proposed to reasonably reduce the negative list of foreign investment access, carry out pilot projects to broaden foreign investment access in the field of science and technology innovation, expand access to foreign financial institutions in the banking and insurance fields, expand the scope of foreign financial institutions participating in the domestic bond market business, and deeply implement pilot projects for qualified overseas limited partners to invest domestically. "Not only does it require access, but it is also important for foreign-funded financial institutions to be allowed to operate." Zhou Yu, the head of the International Department of the People's Bank of China, introduced that since 2018, China has significantly relaxed market access for the financial services industry, attracting more than 110 types of foreign-funded financial institutions to come to China for business development. On the premise of maintaining fair competition, strive to create a better business environment for foreign-funded financial institutions. For example, the People's Bank of China has launched a carbon reduction support tool, which fully considers foreign investment demands while ensuring safety and stability. As of now, 13 foreign banks have been included in the scope of carbon reduction support tool financial institutions. When it comes to carrying out pilot projects to relax the access of foreign investment in the field of scientific and technological innovation, Huazhong, the head of the Department of Utilizing Foreign Investment and Overseas Investment of the National Development and Reform Commission, stated that it is allowed for certain eligible foreign investment enterprises in free trade pilot zones such as Beijing, Shanghai, and Guangdong to choose to expand their pilot projects in the development and application of genetic diagnosis and treatment technologies; Supporting measures to open up information services (limited to application stores) and other fields to better implement and achieve results in the pilot free trade zone. The National Development and Reform Commission will work with relevant departments to ensure the implementation of policies. Zhu Bing, Director of the Foreign Investment Management Department of the Ministry of Commerce, stated that efforts will be made to comprehensively promote the opening up of service trade and investment through negative lists, orderly expand the opening up of service industries such as telecommunications and healthcare, and expand market access for digital products. Excellent environment: Optimize a fair competition environment and provide good services for foreign-invested enterprises. Accelerate the formulation and promulgation of government procurement standards for domestic products, and treat products produced by domestic and foreign enterprises that meet the standards equally and equally in government procurement activities; Develop fair competition review rules in the field of bidding and tendering, strengthen the rigid constraints of fair competition review, and avoid issuing policy documents that exclude and restrict fair competition; Carry out the "Investment in China" key investment promotion activities... The action plan proposes a series of specific measures around "optimizing a fair competition environment and providing good services for foreign-invested enterprises". The action plan also proposes to make good use of platforms such as roundtable meetings for foreign-funded enterprises, deepen regular exchanges with foreign-invested enterprises, foreign chambers of commerce associations, and international organizations, respond to concerns from all parties in a timely manner, and provide targeted service guarantees. Introduction by Zhou Yu: Currently, the China US Financial Working Group
Edit：He Chuanning Responsible editor：Su Suiyue
Source：Xinhua
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