By 2025, the proportion of foreign investment absorbed by high-tech industries will increase to 30%
-foreign investment will improve the quality and structure ("14th Five-Year Plan", new aspects of opening up ②)
Honeywell announced that it has reached a cooperation with a subsidiary of China's Baowu Iron and Steel Group to provide hydrogen purification and purification technology and overall solutions; Japan G-TEKT will invest about 376 million yuan to build a new factory to produce pure electric vehicle body parts in Guangzhou; Porsche Asia Pacific Racing Trading (Shanghai) Co., Ltd. was officially inaugurated in Shanghai Jiading Comprehensive Bonded Zone... In the first half of the year, China's economy continued to recover steadily, with bright spots in the foreign investment sector, and took steady steps for a good start to the "14th Five-Year Plan".
What are the highlights of the use of foreign capital during the "14th Five-Year Plan" period?
The recently issued "Fourteenth Five-Year Plan for Business Development" (hereinafter referred to as the "Plan") not only clarifies the expected indicators for attracting foreign investment, but also proposes a package of key measures.
In the future, foreign investment will continue to improve quality and structure, and better integrate into the national economic cycle.
Attracting both quantity and quality of foreign investment
—— During the "14th Five-Year Plan" period, it is estimated that the accumulated foreign direct investment in 5 years will be 700 billion US dollars, which will increase the proportion of high-tech manufacturing and service industries.
What is the momentum of China's absorption of foreign capital?
The key projects are very convincing.
From the Guangzhou Hyundai Motor Hydrogen Fuel Cell Project, Chongqing Bosch Hydrogen Power System, Hangzhou Thermo Fisher Biopharmaceuticals, Shanghai Legoland... Since the beginning of this year, a number of iconic large projects have landed one after another.
According to the data, there were 602 large projects with foreign investment of more than 100 million US dollars in the first half of the year, an increase of 81.3% year-on-year and an increase of 76% year-on-year.
In response to the raging construction progress of major foreign-funded projects, various investment promotion activities focusing on foreign investment have also been launched in various places since the beginning of this year, and a number of cooperation results have been achieved.
From more than 20 major exhibitions such as the 12th Central China Investment and Trade Expo and the 27th China Lanzhou Investment and Trade Fair, to a series of events such as the "China International Import Expo" According to complete statistics, in the first half of this year, more than 900 investment promotion activities were held in various places, more than 1,400 new foreign investment projects were signed, and the contract amount was more than 170 billion U.S. dollars.
Despite the impact of the epidemic, the huge magnetism of the Chinese market is still there. All parties have gathered their efforts. The current situation in attracting foreign capital is good.
According to data, the actual use of foreign capital in the first half of the year was 607.84 billion yuan, a year-on-year increase of 28.7% and a year-on-year increase of 27.1%.
Regardless of whether it is in RMB or US dollars, the growth rate of the actual use of foreign capital in the country in the first half of the year is the highest in the same period in the past 10 years, and the scale is the highest in the same period in history.
In recent years, China has achieved major breakthroughs in the use of foreign capital.
The scale of foreign investment has increased from US$135.6 billion in 2015 to US$149.3 billion in 2020, ranking it among the world’s forefront.
The foreign capital stock is approximately US$2.8 trillion.
The quality of foreign investment has improved, and the proportion of foreign investment in high-tech industries has increased significantly.
On this basis, the "Plan" clarified the main expected indicators of foreign investment in the "14th Five-Year Plan" period: the accumulated actual foreign direct investment in 5 years is 700 billion US dollars, and the proportion of foreign investment in high-tech industries will increase to 30 by 2025. %.
“These two indicators emphasize scale and quality.” Bai Ming, deputy director of the International Market Research Institute of the Ministry of Commerce Research Institute, believes that in the context of the impact of the epidemic last year, China’s attracting foreign investment has risen against the trend and ranked first in the world. China's investment attraction continues to increase, and the business environment is getting better and better.
At the same time, the growth rate of investment in high-tech manufacturing and service industries in recent years is much higher than the overall growth rate of foreign investment in the same period, indicating that China's attraction to high-quality foreign investment is also increasing.
In the future, China will pay more attention to both quantity and quality in attracting foreign investment.
Integrate into the national economic cycle
——Continue to relax market access for foreign capital, support foreign-funded enterprises to set up global and regional regional headquarters, R&D centers, and participate in the construction of new infrastructure
Not long ago, L'Oréal Group's Jinghua Building office in Shanghai was officially put into use, which means that L'Oréal North Asia headquarters has officially settled in Shanghai. At the same time, L'Oréal's first beauty technology center outside the Paris headquarters will also settle here.
"With more than 20 years of development in China, L'Oréal has become China's largest cosmetics group. China is also one of the group’s most strategic markets in the world, and is expected to become the group’s largest market in the world. This will help us operate facilities in China. The expansion of the company and the establishment of the headquarters in North Asia have laid a solid foundation." L'Oréal North Asia President and Chief Executive Officer of China Faberui said that the improvement of the headquarter level in China will provide more momentum for the group's global growth.
It is not just the choice of this foreign company. Recently, Shanghai has issued certification certificates to 30 regional headquarters of multinational companies and 10 foreign R&D centers. Among them are biomedicine, high-end intelligent manufacturing and high-end services, and other key industries in Shanghai. There are industry leaders and Fortune 500 companies, Shanghai has become a high-frequency choice for multinational companies' global layout.
As of the end of June, a total of 802 regional headquarters and 493 foreign-funded R&D centers have been established in Shanghai by multinational companies.
"In China, for China", the regional headquarters and R&D centers not only reflect the determination of foreign companies to deepen the Chinese market, but also a powerful engine to boost regional economic development.
The "Plan" clearly proposes to support foreign-funded enterprises to establish global and regional regional headquarters and R&D centers, and guide foreign investment to actively participate in the construction of new infrastructure.
At the same time, it is emphasized that the market access for foreign investment will continue to be relaxed and guide foreign investment to better integrate into the national economic cycle.
Bai Ming believes that to allow foreign investment to better integrate into the national economic cycle is to guide foreign investment to the most suitable and most needed place. At the same time, there are our scarce and welcome resources in international investment factors, such as green development, high-tech service industry, and financial industry. Etc., is the key area of current development, and foreign investment has a lot to do.
What will be done during the "14th Five-Year Plan" period?
The field of foreign investment access will continue to expand, and the foreign investment environment will continue to be optimized.
Take the lead in completing the approval of the Regional Comprehensive Economic Partnership Agreement and speed up institutional opening; Tianjin, Shanghai, Hainan, and Chongqing have been included in the new round of comprehensive pilot projects for expanding the opening up of the service industry; Hainan Free Trade Port’s cross-border service trade negative list Landing... Since the beginning of this year, we have continued to expand and open up.
The "Plan" clearly stated that it will further reduce the negative list of foreign investment access, orderly promote the opening of related businesses in the fields of telecommunications, Internet, education, culture, and medical care, and steadily promote the opening of the capital market.
"In terms of absorbing foreign capital, we will not change the direction of encouraging more foreign-funded enterprises to develop in China." Gao Feng, a spokesperson for the Ministry of Commerce, said recently that during the "14th Five-Year Plan" period, the Foreign Investment Law and its implementation regulations will be fully implemented to safeguard Fair competition order, protect the legal rights and interests of foreign investment, create a market-oriented, legalized, and international business environment, continue to strengthen the service guarantee for foreign-funded enterprises and foreign-funded projects, so that foreign-funded enterprises can enter, retain, and develop well.
Improve the "Industrial Chain Map"
——230 state-level economic development zones need to innovate and upgrade, increase investment in strategic emerging industries, and focus on characteristic industrial chains to "make a fuss"
Attracting foreign investment requires a platform.
The innovation and promotion of national economic and technological development zones are included in the "Plan".
In June of this year, the national economic development zone achieved a large-scale expansion that was rare in recent years. 13 provincial development zones, including Zhangjiakou Economic Development Zone in Hebei, Huishan Economic Development Zone in Wuxi, Jiangsu, and Toumen Port Economic Development Zone in Zhejiang, were successfully upgraded. It is a national economic development zone.
With the addition of "fresh blood", up to now, the number of national economic development zones has reached 230.
"At present, the actual utilization of foreign capital and import and export volume of national economic development zones account for about 1/5 of the total amount of the country. They are an important carrier for opening up and an important gathering place for foreign investment. Through opening up and innovation, expand the use of foreign capital and strengthen projects. Drive, accelerate the introduction of functional institutions such as regional headquarters, R&D, finance, and settlement of multinational companies, which will help improve the quality and level of investment promotion in national economic development zones." said Zhang Wei, deputy dean of the Research Institute of the Ministry of Commerce.
According to data from the Ministry of Commerce, according to preliminary calculations, in 2020, the country's 217 national economic development zones will have a GDP of 11.6 trillion yuan, a year-on-year increase of 6.4%.
The actual use of foreign capital and the reinvestment of foreign-invested enterprises amounted to US$61.1 billion, accounting for 23.1% of the country’s total utilization of foreign capital; the total import and export volume was 6.7 trillion yuan, accounting for 20.8% of the country’s total import and export volume.
Among the key measures to improve the quality of foreign investment utilization, the "Plan" clearly proposes to focus on the innovation and promotion of national economic development zones, promote the "chain length system" of the industrial chain, and increase the intensity of investment in strategic emerging industries.
Instruct all localities to focus on key areas, improve the "industrial chain map" according to local conditions, build an investment project information database, and promote the sharing of investment information.
Bai Ming believes that the promotion of the "chain length system" of the industrial chain in various places is to promote the larger and stronger characteristic industries and strengthen the right to speak in the international industrial chain.
From the perspective of the construction of national economic development zones, we have the basis for market, resource and factor allocation capabilities, while foreign investment can provide advantages such as technology and management experience. When the two parties play a role together, they can further form a joint force and give birth to "chemical reactions." , And better achieve a win-win situation.
The reporter combed and found that Zhejiang, Shandong, Jiangxi and other provinces have implemented the "chain length system" across the province, especially a group of national-level economic development zones that focus on the leading industries and characteristic industrial chains of the parks to coordinate high-quality resources. Innovating the ways of attracting investment and improving the level of digitalization have played an important role in stabilizing the industrial chain and supply chain.
In general, quality will be the key word for attracting foreign investment in the future.
Bai Ming said that over the years, my country has experienced a stage of rapid growth in attracting foreign investment from small to large. The future will continue to focus on stability, focusing on foreign investment structure, technological content, green content, and its contribution to China’s economy and industrial transformation and upgrading. force.
Li Jie