China to expand 'encouraged' sectors for foreign investment

Source: CGTN / Updated: 2022-05-20

China will further expand the industry catalog of sectors encouraging foreign investment, according to the National Development and Reform Commission (NDRC) on Tuesday.

The Catalogue of Encouraged Industries for Foreign Investment (Edition 2022) (Exposure Draft) will add 238 more items, while up to 114 existing ones will be modified with expansion, said an earlier notice issued by NDRC and the Ministry of Commerce (MOFCOM).

The authorities are gathering public opinions until June 10, 2022. Once enacted, the new list will replace its 2020 version.

The purpose of the revision is to continue to encourage foreign investment in manufacturing, producer services in the central, western and northeastern regions, said Meng Wei, a spokesperson of NDRC, at a press conference.

Foreign direct investment into the Chinese mainland, in actual use, expanded 25.6 percent year on year to 379.87 billion yuan ($56.18 billion) in the first quarter of the year, per the MOFCOM.

(With input from Xinhua)