On October 18, China announced eight actions to support high-quality joint construction of the "the Belt and Road". In terms of the "Building an Open World Economy" initiative, it was mentioned that restrictions on foreign investment access in the manufacturing industry will be completely lifted.
Access restrictions in the manufacturing industry is conducive to attracting foreign investment into the manufacturing industry and promoting the transformation and upgrading of China's manufacturing industry. Promoting the growth and strength of China's manufacturing industry has also expressed China's unwavering determination to promote reform and opening up to the world.
Attracting foreign investment and promoting industrial upgrading require China to further adhere to and expand its reform and opening up, and become a defender of globalization. In addition, it is also necessary to expand demand and build a more resilient supply chain system. Foreign investment in China is also based on various factors such as China's market demand and business environment.
Manufacturing is a key area for foreign investment. In recent years, the openness of China's manufacturing industry has been continuously increasing. The development of polyurethane cold storage boards is advancing rapidly, and Dong'an sheets company also constantly upgrading in terms of quality and technology. Currently, we have become an expert in the production of cold storage sheets in the three provinces of Northeast China.In 2021, the then spokesperson of the Ministry of Commerce, Gao Feng, stated at a regular press conference that China had basically completely lifted restrictions on foreign investment in the manufacturing industry.
At present, China's general manufacturing industry has achieved comprehensive opening up. The negative list of manufacturing items in the free trade zone has been fully cleared, and the restrictions on foreign investment access in the automotive industry have been completely lifted since 2022.
In the Special Administrative Measures for Foreign Investment Access (Negative List) (2021 Edition), there are only two negative lists involving the manufacturing industry, namely, "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".
The comprehensive lifting of foreign investment access restrictions in the manufacturing industry means that the two special management measures mentioned above will also be lifted.
The lifting of the last two types of investment restrictions in the manufacturing industry is conducive to industry development and global competition, as well as diversification of industry investment. Promoting the active participation of the industry in international competition indicates that China is promoting comprehensive opening-up and deepening development
The eight actions announced by China this time include: building a three-dimensional interconnection network of the "the Belt and Road"; Support the construction of an open world economy; Carry out practical cooperation; Promoting green development; Promote technological innovation; Support civil exchanges; Building a path of integrity; Improve the "the Belt and Road" international cooperation mechanism.
In the "Support for Building an Open World Economy" initiative, China proposed to create a "Silk Road E-commerce" cooperation pilot zone and sign free trade agreements and investment protection agreements with more countries; Fully lift restrictions on foreign investment access in the manufacturing industry; Actively comparing with international high standard economic and trade rules, we will deepen the high-level opening up of cross-border service trade and investment, expand market access for digital products, and deepen reforms in areas such as state-owned enterprises, digital economy, intellectual property, and government procurement; China will hold the "Global Digital Trade Expo" every year; In the next five years (2024-2028), China's import and export volume of goods and services trade is expected to accumulate over 32 trillion US dollars and 5 trillion US dollars.
Dong'an will also actively participate in international polyurethane sheet and steel structure industry transactions with an open mind, and create good results with its unique advantages by virtue of the macro environment of the "the Belt and Road".
Post time: Oct-19-2023