(Economic Observation) Two "unusuals" in China's new version of the catalogue of industries encouraging foreign investment

　　China News Service, Beijing, December 28 (Reporter Li Xiaoyu) On the 28th, Chinese officials announced the 2020 version of the catalog of industries encouraging foreign investment.

There are two unusual things behind this seemingly routine move.

　　First, the timing is unusual.

　　Different from the negative list of foreign investment access, the previous revision cycle of China's encouraged investment catalogue was generally 3 to 5 years, but this revision is only one year apart from the previous edition, and the frequency has been significantly accelerated.

　　This is related to the current situation of China's absorption of foreign capital.

Since the beginning of this year, thanks to many favorable factors such as taking the lead in controlling the epidemic, taking the lead in restoring the economy, continuing to expand market opening and improving the business environment, China's absorption of foreign capital has risen despite the epidemic.

According to official data, China's actual use of foreign capital from January to November 2020 is 899.38 billion yuan, a year-on-year increase of 6.3%.

As of November, China's absorption of foreign capital has increased for eight consecutive months.

　　However, with the epidemic still spreading on a large scale, the prospects for the recovery of the world economy still facing various uncertainties, and the overall sluggishness of global cross-border direct investment, it will not be easy for China to attract foreign investment in the future to maintain stable growth.

　　Considering that foreign-invested enterprises contribute about one-quarter of China's industrial output, one-fifth of taxes, and about 40% of total imports and exports, whether foreign investment can be stabilized is of great significance to China's economy.

　　As the relevant person in charge of the National Development and Reform Commission of China said, the reason for accelerating the introduction of the catalog of industries that encourage foreign investment is to actively respond to the complex changes in the external environment and the downward trend of global cross-border investment, boost foreign investment confidence, and promote the stability of foreign investment fundamentals.

　　Second, the content is unusual.

　　The revised catalog pays more attention to the role of foreign capital in filling the shortcomings of China's domestic industrial chain supply chain and promoting the industrial chain to leap to the high end.

　　For example, in the field of raw materials, add or modify items such as special glass fiber and high-performance fiber; in the field of parts, add or modify items such as high-pressure vacuum components, special valves, special bearings, special glass, wheel speed sensors, etc.; end products In the field, add or modify items such as integrated circuit test equipment, laser projection equipment, ultra-high-definition TV, ventilators, ECMO, artificial intelligence auxiliary medical equipment, etc.

　　After the epidemic, China has paid more and more attention to ensuring the safety of the industrial chain and supply chain.

At the Central Economic Work Conference held a few days ago, "enhancing the independent and controllable ability of the industrial supply chain" has been listed as one of the eight key economic tasks next year.

　　Zhang Yansheng, chief researcher of the China International Economic Exchange Center, told a reporter from China News Agency that basic components and parts, basic raw materials and equipment, basic craftsmanship and technology are important components of the industrial foundation, and advanced industrial foundations and industrial chain modernization complement each other. .

With a strong production capacity of high-end basic materials, components, equipment and processes, as well as advanced technology and high-quality labor, it can stand in the middle and high end of the industry chain.

　　He said that encouraging foreign investment in the above fields will help consolidate China's industrial foundation, improve the level of the industrial chain, and form a stronger innovative and higher value-added industrial chain through open cooperation.

　　Cui Weijie, director of the Industrial Internationalization Strategy Institute of the Institute of International Trade and Economic Cooperation of the Ministry of Commerce, also believes that attaching importance to the modernization of the industrial chain is not only an inevitable requirement for China to build a modern economic system, but also an urgent need to respond to the complex international situation and enhance China's independent development capabilities.

Expanding high-level opening up and improving the quality of attracting foreign investment is one of the important ways to "complement the chain" and "strengthen the chain."

　　Analysts believe that with the accelerated evolution of world changes and the increasingly fierce competition for international investment, China will have more "unusual" moves in opening up and attracting foreign investment in the future.

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