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Supporting foreign investment to broadly participate in "Made in China 2025"
2022/11/05
The "Foreign Investment Industry Guidance Catalog (2017 Revision)" expands the scope of its encouraged policies—
Supporting foreign investment to broadly participate in "Made in China 2025"
On the 29th, Sun Jiwen, spokesperson for the Ministry of Commerce, stated that the recently released "Foreign Investment Industry Guidance Catalog (2017 Revision)" represents another significant reform as China proactively opens its doors to the world and further improves the country's investment environment. The new catalog will better support foreign-invested enterprises in playing a vital role in driving the development of the real economy.
According to reports, the 2017 edition of the "Catalogue" highlights three key features: First, it further narrows the scope of approval required for establishing and modifying foreign-invested enterprises. With the exception of "domestic companies, enterprises, or individuals acquiring domestic companies with which they have affiliated relationships through mergers and acquisitions involving companies legally established or controlled overseas," all other foreign investment mergers, acquisitions, and corporate changes—such as listed companies welcoming strategic investments from foreign investors—that do not involve specific entry-related regulatory measures will now fall under filing-based management. Meanwhile, the Ministry of Commerce is simultaneously developing complementary measures and plans to revise and issue the "Administrative Measures for Filing of Establishment and Changes in Foreign-Invested Enterprises" at an appropriate time, clearly outlining the filing procedures for merger-acquisition-driven enterprise establishment and modifications. This move will significantly streamline the procedures for foreign-invested M&A deals, effectively reducing institutional transaction costs.
Second, restrictions on foreign investment access in the service sector, manufacturing, and mining industries have been further eased, leaving only 63 restrictive measures—30 fewer than the 93 restrictive measures outlined in the 2015 version of the "Catalog."
Third, the scope of encouraged policies has been further expanded. The latest "Catalogue" includes 348 entries categorized as "encouraged," an increase of 6 compared to the 2015 version, along with 35 revisions. Notably, it now covers emerging areas such as the research and development and manufacturing of virtual reality (VR) and augmented reality (AR) devices, the development and production of key components for 3D printing equipment, and the construction of urban parking facilities. These newly added and revised encouraged entries will better facilitate the integration of capital, technology, and talent, continuing to attract foreign investment into sectors aligned with China's industrial transformation and upgrading. Additionally, they support broader foreign participation in initiatives like the "Made in China 2025" strategy and the innovation-driven development agenda. (Reporter: Feng Qiyu)
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