China Ramps Up Efforts to Attract Foreign Investment Across Diverse Industries

M Ashraf Siddiqui

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21/03/2024

Beijing, 20 March 2024 (Xinhua)

China has started revising the industry catalog of sectors encouraging foreign investment, the country's top economic planner said on Wednesday.

During the revision process, the National Development and Reform Commission will engage in extensive communication with foreign chambers of commerce and enterprises through field investigations and seminars, said Hua Zhong, an official of the commission.

The revision will maintain a focus on the manufacturing sector as one of the priorities for attracting foreign investment, Hua said, adding that China will step up support to advanced manufacturing, modern services, advanced technology, energy conservation and environmental protection to attract more foreign investment in these areas.

The revision will be tailored according to local resources and industrial foundations in central and western regions to encourage multinationals to develop businesses there, Hua said.

(240313) -- QINGDAO, March 13, 2024 (Xinhua) -- A drone photo shows a view of Qingdao Port in east China's Shandong Province, March 13, 2024. The total import and export of goods in Qingdao grew 5.4 percent year on year to 125.8 billion yuan (about 17.49 billion U.S. dollars) in the first two months of 2024, according to the local customs administration. (Xinhua/Li Ziheng)

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