(Economic Observation) China's "14th Five-Year Plan" Development Plan for Utilizing Foreign Capital Has Been Released
China News Service, Beijing, October 23rd, title: China's "14th Five-Year Plan" Utilization of Foreign Capital Development Plan Released
China News Agency reporter Liu Liang
In the face of complex and profound changes in the domestic and international environment, Chinese officials have introduced new measures in an effort to stabilize the fundamentals of foreign investment.
Recently, the Ministry of Commerce of China issued the "Fourteenth Five-Year Plan for the Utilization of Foreign Capital" (hereinafter referred to as the "Plan"), which is the first special plan for the utilization of foreign capital issued by the Ministry of Commerce.
The "Plan" points out the direction for the future development of China's utilization of foreign capital.
What is the significance of the "Planning"?
This year is the first year of China's "14th Five-Year Plan", and China's use of foreign capital has also entered a new stage of development.
Zong Changqing, Director of the Foreign Investment Department of the Ministry of Commerce, pointed out that the use of foreign investment is an important part of China's basic national policy of opening up.
As an important market entity in China, foreign-funded enterprises account for about 2% of the total number of enterprises in the country, creating about two-fifths of the country’s foreign trade and one-sixth of the country’s tax revenues, directly or indirectly driving up to ten The first urban employment has made an important contribution to China's comprehensive construction of a moderately prosperous society.
The "Plan" compiled this time strives to make better use of foreign investment in the new development stage and better serve the construction of a new development pattern.
"Business work is an important part of the domestic cycle, an important hub linking the domestic and international dual cycles, and plays an important role in the new development pattern. After years of development in China, foreign-funded enterprises have not only deeply integrated into the domestic economic cycle, but also It has the advantages of connecting both inside and outside, and it is an important bridge and link between the domestic and international double cycles." Zong Changqing said.
According to statistics, among China's enterprises with actual import and export performance, foreign-funded enterprises account for about one-sixth, contributing nearly 40% of imports and exports, and accounting for about 50% and 60% of exports of mechanical and electrical products and high-tech products, respectively. Success, effectively connecting the domestic and international markets.
What are the characteristics of the use of foreign capital during the 14th Five-Year Plan?
The "Plan" makes new arrangements for China's use of foreign capital.
On the whole, the four distinctive features of unswervingly expanding opening up, improving the quality of using foreign capital, continuously optimizing the business environment, coordinating development and security run through.
The "Plan" proposes that we must adhere to a high level of opening to the outside world and attract high-quality global element resources with a high level of openness; adhere to a stable total and optimal structure, stabilize the scale of foreign capital utilization, and improve the quality of foreign capital utilization; adhere to a stable chain of services and better use Foreign investment enhances the modernization level of the industrial chain supply chain; insists on optimizing the business environment, and continues to stabilize foreign investment expectations and confidence; insists on overall development and security, and prevents and resolves national security risks.
The "Plan" looks forward to the prospects for the utilization of foreign capital in 2035 and puts forward the main objectives of the utilization of foreign capital during the "14th Five-Year Plan" period, namely, the scale of utilization of foreign capital is among the highest in the world, the status of foreign capital utilization is stable, the structure of utilization of foreign capital is continuously optimized, and foreign investment and foreign trade are continuously optimized. , The linkage effect of promoting consumption is further strengthened.
Meng Huating, deputy director of the Foreign Investment Department of the Ministry of Commerce, pointed out that in order to ensure the completion of the goal of stabilizing foreign investment throughout the year and at the same time lay a solid foundation for stabilizing foreign investment next year, the Ministry of Commerce will take targeted measures against the above goals.
For example, in terms of opening up, we will speed up the revision and release of the new version of the Negative List for Foreign Investment Access in the National and Pilot Free Trade Zones, and further relax market access for foreign investment; in terms of investment promotion, we will play the role of major exhibition platforms such as the 4th China International Import Expo. Large investment promotion efforts, strive to have more exhibitors become investors, etc.
What is the situation facing foreign investment?
Since the beginning of this year, China has achieved rapid growth in attracting foreign investment, and the results have been significantly better than expected.
However, the current external environment for stabilizing foreign investment is still complex and severe.
Zong Changqing said frankly that, on the one hand, the global epidemic is still evolving.
Cross-border activities to attract investment are inconvenient, and it is difficult to "go out" or "invite in". The effectiveness of online investment promotion is limited, and the implementation and construction of some foreign-funded projects have slowed down.
On the other hand, the international industrial chain supply chain has been deeply reconstructed.
Affected by non-economic factors such as the epidemic and the “decoupling” and “wall building” of individual countries, the global industrial chain supply chain is being deeply reshaped. Transnational investment is showing trends such as near-shore, localization, and regionalization, and competition for foreign investment has become more intense.
In addition, from a domestic perspective, the supply-demand relationship of China's land and resources has become tighter, costs have continued to increase, and traditional comparative advantages have weakened.
However, Zong Changqing also emphasized that China still has many favorable conditions for attracting foreign investment, such as the rebound trend of global multinational investment.
In addition, China's economic development continues to stabilize and improve, the attractiveness of the hyper-scale market continues to increase, and foreign investment expectations and confidence in China continue to stabilize, which have also laid a solid foundation for it.
"Combining the above factors, considering that China has achieved rapid growth in foreign investment in the first three quarters of this year, we predict that, unless there are special circumstances, the annual foreign investment in Stable growth can achieve the goal of stabilizing foreign investment throughout the year." Zong Changqing said.
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