China to revise regulations to attract overseas investments

China is revising regulations to attract more foreign companies under a policy of openness, including changes to its blacklist of foreign investors and providing for equal treatment of foreign and Chinese enterprises, President Xi Jinping and other senior officials have said.

‘China will steadily expand institutional opening-up with regard to rules, regulations, management and standards, and will work with all countries and parties to share opportunities arising from it,’ the Chinese president said in a letter, 26 March, to the China Development Forum 2023.

‘Xi said China will remain committed to its fundamental national policy of opening up to the outside world, pursue a mutually beneficial strategy, and continue to create opportunities for the world with new advances in China’s development,’ the official China Daily reported.

Zheng Shanjie, head of the National Development and Reform Commission, said China ‘welcomes foreign companies to invest and do business in the country and share its development opportunities,’ according to the report.

He said the country ‘will also make appropriate reductions to the negative list for foreign investment, ensure national treatment for all foreign-invested enterprises, enhance the stability, scale and structure of foreign trade and promote the high-quality development of the Belt and Road Initiative,’ according to the newspaper.

Meanwhile, Chinese Foreign Minister Qin Gang said his country ‘has not changed its position on developing a sound, stable and constructive relationship with the United States,’ while complaining that ‘the current ties are still chilly.’

His remarks came at a meeting in Beijing, 25 March, with ‘a visiting US delegation representing friendly organizations and the US business community,’ the China Daily said.

‘Extending warm greetings to the delegation, Qin said that US enterprises are welcome to expand their investment in China, and China will continue to provide a better business environment for companies from the US and other countries.’ 

https://www.chinadaily.com.cn/a/202303/27/WS64206d1ea31057c47ebb6965.html

https://www.chinadaily.com.cn/a/202303/27/WS64206f8ba31057c47ebb696b.html