Implementation of a high-level opening to the outside world, the negative list of foreign investment access will be "slim down" again
Our reporter Liu Meng
"Active and effective use of foreign investment. Further reduce the negative list of foreign investment access." Premier Li Keqiang said in a government work report on March 5.
According to the "Special Management Measures for Foreign Investment Access (Negative List) (2020 Edition)" and the "Special Management Measures for Foreign Investment Access (Negative List) (2020 Edition) in Pilot Free Trade Zones" announced on June 24 last year, the new version of foreign investment The Negative Access List will come into effect on July 23, 2020.
Compared with the 2019 version, the 2020 version of the negative list of foreign investment access has been further reduced, and the opening up of the service industry, manufacturing industry and agriculture has been improved.
Among them, the national negative list was reduced from 40 to 33, with a reduction ratio of 17.5%, and two other items were partially opened; the negative list of the pilot free trade zone was reduced from 37 to 30, with a reduction ratio of 18.9%, and one more Partially open.
Since 2017 proposed to implement special management measures for foreign investment access nationwide (ie, the negative list of foreign investment access), restrictive measures have been reduced from 93 to 33 in manufacturing, energy, infrastructure, agriculture, finance, etc. The degree of openness of the field to foreign investment has continued to expand.
Speaking of the impact of the continuous slimming down of the negative list for foreign investment, Tao Jin, deputy director of the Macroeconomic Research Center of the Suning Institute of Financial Research, said in an interview with a reporter from the Securities Daily that, first of all, the regulatory thinking of the negative list has changed the traditional trade and Foreign investment control integrates the previously fragmented trade and foreign investment supervision rules, and further integrates with high international standards; secondly, the cancellation or relaxation of each negative list item means a more open field.
The opening up of foreign investment in more fields brings spillover effects in more fields and overall economic development such as employment and taxation.
"The 2020 version of the negative list has made significant "subtractions" in the access scope and foreign shareholding ratios of related industries such as agriculture, manufacturing, and finance, and the inflow of foreign capital in these fields has begun to increase." Tao Jin said.
In recent years, through the expansion of opening up, my country's use of foreign capital has increased steadily.
According to data from the Ministry of Commerce, my country's utilization of foreign capital will grow against the trend in 2020. The actual utilization of foreign capital for the whole year is 999.98 billion yuan, an increase of 6.2%. There are 39,000 newly established foreign-funded enterprises, making China the world's largest foreign capital inflow country.
Talking about which areas will further open up in the future?
Xiao Benhua, deputy dean of the Free Trade Zone Research Institute of Shanghai Lixin Accounting and Finance College, said in an interview with the Securities Daily that it is expected to further expand the opening up in key areas such as finance, education, and medical care. For example, in finance, my country’s bond market will be opened in 2021 Opening up will greatly accelerate the pace.
Tao Jin said that the current foreign investment restrictions are mainly distributed in nearly 40 sub-sectors related to national security and national economy and people's livelihood, including agriculture, mining, manufacturing, information services, finance, education and cultural industries.
It is expected that the manufacturing industry will be fully liberalized this year, and the service industry related to science and technology will be further opened up.
In addition, the banking, insurance, asset management and other subdivisions related to the financial industry will be further opened up.
At the same time, China will continue to create a market-oriented, legalized, international business environment, improve investment facilitation, and create a market environment where domestic and foreign companies are treated equally and fair competition.
(Securities Daily)