Foreign investment admits “relaxation” experts say it will enhance the international competitiveness of related industries
"Accelerate the implementation of the new version of the negative list of foreign investment access to ensure that the new opening measures are implemented in a timely manner." Ministry of Commerce spokesman Gao Feng said at the Ministry of Commerce's regular press conference on July 2.
The seminar on stabilizing foreign trade held on June 28 proposed that new measures for stabilizing foreign trade and foreign investment should be studied and introduced, and that more measures should be taken to expand opening up. Corresponding to the steady progress of steady foreign trade and stable foreign investment, our negative list of foreign investment access has been further reduced.
According to the recently announced "Special Management Measures for Foreign Investment Access (Negative List) (2020 Version)" (hereinafter referred to as "National Negative List") and "Special Management Measures for Foreign Investment Access (Free Negative List) in Pilot Free Trade Zones (2020 Version)" )" (hereinafter referred to as the "Free Trade Zone Negative List"), after repeated reductions, the national negative list was reduced to 33, and the free trade zone negative list was reduced to 30. At the same time, the 2020 version of the Negative List of the Negative List of the Nation and the Negative List of the Free Trade Zone will be implemented on July 23.
The relevant person in charge of the National Development and Reform Commission said that the 2020 version of the Negative List of Foreign Investment Admission as a new version of the Negative List after the implementation of the "Foreign Investment Law" and its implementing regulations, in addition to further expansion of opening up, has also been linked to the relevant provisions of laws and regulations.
Liu Xiangdong, deputy director of the Economic Research Department of the China International Economic Exchange Center, told the Securities Daily reporter that further reducing the negative list and expanding the scope of foreign investment will help stabilize the confidence of foreign companies in investing in China, demonstrating China’s determination to continue to open up, not because of the epidemic. Or trade frictions have stalled or regressed. For foreign-funded enterprises, further expansion of opening up will help them continue to expand their business in China, expand their businesses in China with a larger share ratio in a wider range of fields, and at the same time, as relevant access rules become clearer, they will also be provided to foreign-funded enterprises. Clearer choice.
Pan Helin, executive dean of the Digital Economics Research Institute of Zhongnan University of Economics and Law, told the Securities Daily reporter that the 2020 version of the negative list of foreign investment access is full of sincerity. First of all, the investment restrictions of foreign-funded enterprises are getting less and less, including the proportion of foreign ownership of commercial vehicles, air traffic control and other fields. This is a huge investment opportunity for foreign-funded enterprises; second, the epidemic situation in China has been basically Control, China's resumption of production and production process is good, foreign investment has great enthusiasm for investment in China, at this time the new version of the list is timely, can effectively meet foreign investment enthusiasm, strengthen international cooperation, and achieve a win-win situation for domestic enterprises and foreign investment.
The National Negative List and the Free Trade Zone Negative List have each been reduced by 7 articles, involving multiple sectors such as service industry, manufacturing and agriculture. Among the reduced items, there are many bright spots in the expansion of the financial industry, urban water supply and drainage network construction, commercial vehicle manufacturing, seed production, and vocational education in cities with a population of more than 500,000.
"The new version of the negative list of foreign investment access not only expands the open field, but also relaxes restrictions on foreign shares, providing new investment opportunities and a more fair competitive environment for foreign capital." Shanghai Lixin Institute of Accounting and Finance Free Trade Zone Research Institute Vice President Xiao Benhua told the "Securities Daily" reporter that in the field of manufacturing, for example, the restrictions on the share ratio of foreign investment in commercial vehicle manufacturing will be liberalized. This is a new round of speed-up opening after the new energy vehicle sector is opened to foreign investment. The manufacturing industry has a certain impact, accelerating the pace of transformation and upgrading of the domestic automobile manufacturing industry. In the agricultural field, the selection of new wheat varieties and the production of seeds must be relaxed from Chinese holding to a share ratio of at least 34%, which will have a certain impact on the development of China's seed industry. .
Pan Helin said that in the financial field, the restrictions on foreign shares of securities companies, securities investment fund management companies, futures companies and life insurance companies have been lifted, which means that our capital market will be further connected with overseas funds in the financial sector. The pool will be expanded, and the advanced value investment philosophy of external capital will be integrated into China's investment market, which will help improve the quality and efficiency of China's financial industry.
Liu Xiangdong said that the cancellation or relaxation of each negative list entry means a more open field or industry, which will be conducive to the market reform of the industry, prompting adjustments to the industry’s regulatory rules and improving regulatory capabilities, modernizing industry management, and improving International competitiveness of related industries. (Securities Daily)
Our reporter Liu Meng