my country's foreign investment grows against the trend to achieve "three upgrades"
The business environment has been further optimized one year after the implementation of the Foreign Investment Law
□ reporter Zhang Wei
More and more foreign investment is embracing an increasingly open China.
Data from the Ministry of Commerce of China shows that in 2020, facing the severe impact of the new crown pneumonia epidemic, under the background of the sharp decline in global transnational direct investment, my country's actual use of foreign capital for the whole year has grown against the trend, achieving the total amount of foreign investment, the growth rate, and the The global share was "three-increasing", and the actual use of foreign capital was 999.98 billion yuan, a year-on-year increase of 6.2%.
This shows that the implementation effect of the "Foreign Investment Law of the People's Republic of China" has achieved its legislative purpose.
One year has passed since the implementation of the Foreign Investment Law. The person in charge of the Second Legislative Bureau of the Ministry of Justice said in an interview with a reporter from the Rule of Law Daily that the formulation of the Foreign Investment Law has provided more opportunities for further opening to the outside world and the active and effective use of foreign capital under the new situation. Strong legal protection.
The Foreign Investment Law further highlights the image of my country’s opening-up, highlights the main tone of expanding opening-up and actively using foreign capital, and by strengthening the promotion and protection of foreign investment, it releases a clear signal of a new round of high-level opening-up.
Strengthen investment protection
Actively attracting and utilizing foreign investment is an important part of my country's expansion of opening up and building a new open economic system.
Over the past 40 years of reform and opening up, the important enlightenment is that: opening up brings progress, and closedness will inevitably lag behind.
The achievements of China’s economic development in the past 40 years have been achieved under open conditions. Foreign investment has played an active role in promoting sustained economic development, expanding foreign trade, optimizing industrial structure, increasing social employment, cultivating market players, and improving market mechanisms. .
In the future, if China's economy is to achieve high-quality development, it must also proceed under more open conditions, which requires corresponding legal protection.
In order to actively promote foreign investment, the Foreign Investment Law stipulates that the state adheres to the basic state policy of opening to the outside world and encourages foreign investors to invest in China in accordance with the law; the state implements a high-level investment liberalization and facilitation policy, establishes and improves foreign investment promotion mechanisms, and creates stability , Transparent, predictable and fair competition market environment.
At the same time, a special chapter on "Investment Promotion" is set up to improve the transparency of foreign investment policies, ensure that foreign-invested enterprises participate in market competition on an equal footing, strengthen foreign investment services, and encourage and guide foreign investment in accordance with laws and regulations.
Regarding the protection of the legal rights and interests of foreign investment, the Foreign Investment Law stipulates in the General Provisions chapter that the state protects the investment, income and other legal rights and interests of foreign investors in China in accordance with the law.
At the same time, a special chapter on "Investment Protection" was set up to strengthen the property rights protection of foreign-invested enterprises, strengthen the constraints on the formulation of regulatory documents involving foreign investment, and urge local governments to keep their promises.
Establish a complaint mechanism for foreign-invested enterprises.
Optimize the business environment
In recent years, China’s business environment has continued to improve, and the promulgation of the Foreign Investment Law has made the business environment more attractive.
Yang Zhiyong, a researcher and deputy dean of the Institute of Financial Strategy of the Chinese Academy of Social Sciences, believes that optimizing the business environment is not only at the national level, but also at the local level.
"It is with the optimization of the business environment that you catch up with me, the business environment can be improved in a relatively short period of time. This improvement is not only reflected in China’s steady rise in the World Bank’s business environment rankings, but also It is more reflected in the behavioral choices of investors." Yang Zhiyong said.
In particular, it is worth mentioning that in terms of ensuring that foreign investment is willing to come and retain, and to create a more attractive investment environment, the Foreign Investment Law provides for the creation of a stable, transparent and predictable investment environment as follows:
——A system of pre-entry national treatment plus a negative list management system for foreign investment.
——The policies of the state supporting the development of enterprises shall be equally applicable to foreign-invested enterprises; the opinions and suggestions of foreign-invested enterprises shall be heeded in formulating laws, regulations, and rules related to foreign investment, and the regulatory documents and judicial judgments related to foreign investment shall be Promulgated in a timely manner in accordance with the law; the state has established a sound foreign investment service system to provide foreign investors and foreign-invested enterprises with consulting and services on laws, regulations, policies and measures, and investment project information.
——Foreign-invested enterprises participate in standardization work and government procurement activities on an equal footing. Information disclosure and social supervision should be strengthened in standard formulation. Compulsory standards are equally applicable to foreign-invested enterprises, and products produced by foreign-invested enterprises in China are treated equally in government procurement.
——Foreign-invested enterprises may raise funds through public issuance of stocks, corporate bonds and other securities and other methods in accordance with the law.
—— Local governments at all levels may formulate foreign investment promotion policies within their statutory powers, and governments at all levels and their relevant departments shall further improve the level of foreign investment services.
Favored by investors
The behavioral choices of investors, in 2020 when the epidemic is spreading, can better demonstrate "which company is strong".
Under the epidemic, some institutions believe that it is more difficult to revive global cross-border investment than to resume production.
But in China, foreign investment rose instead of falling.
According to a survey from the US-China Business Council, nearly 70% of American companies surveyed have confidence in China's market prospects in the next five years.
According to a survey conducted by the British Chamber of Commerce in China, 44% of British companies surveyed indicated that they would increase investment in China in 2021.
According to a survey by the Japan Chamber of Commerce in China, more than 40% of the Japanese companies surveyed plan to expand their business in China in the next year or two.
In Guangzhou Biological Island, AstraZeneca's southern China headquarters is stepping up construction.
According to plan, it is expected to be put into use in 2021.
Relying on this headquarters, AstraZeneca's many innovative medicines and integrated diagnosis and treatment solutions will be better implemented in the Guangdong-Hong Kong-Macao Greater Bay Area and serve more patients locally.
According to Lai Minglong, general manager of AstraZeneca China, the foreign investment law provides more solid protection for the legal rights and interests of foreign-funded enterprises.
An optimized market environment, fair competition, and a vibrant investment atmosphere can give full play to the initiative of enterprises in innovation, help the Chinese market attract and gather overseas resources, and further promote the integration of foreign-funded enterprises and China's local economy.
John Markman, Chief Financial Officer of Grundfos China, said: “The implementation of the Foreign Investment Law reflects China’s determination to open up to the outside world. The Chinese government has taken many measures to improve market access, expand imports, strengthen intellectual property protection, and create more attractive A strong investment environment. We are confident in an open and innovative Chinese market."
Yang Zhiyong said that the Foreign Investment Law has solved some of the issues of foreign investment barriers that are of high market concern, involving government procurement, intellectual property protection, and equal participation of foreign-invested enterprises in standard setting.
"The institutional opening-up system is becoming more and more perfect, and foreign investment is becoming more and more free and convenient. For foreign capital, it is easier to share China's huge domestic market and share economic prosperity; for the world, this will inevitably promote The construction of a community with a shared future for mankind".