NDRC Introduces More Measures to Facilitate Foreign Investment
13 March 2020
China’s National Development and Reform Commission (NDRC) has put forward 11 tasks for keeping foreign investment stable. These include enhanced efforts to help foreign-funded projects and foreign-invested enterprises resume work and production, promote collaboration between foreign-invested enterprises and industry chain in the resumption of work, while at the same time making all support policies eligible equally to domestic and foreign-invested enterprises.
Meanwhile, every effort will be made to follow up the development of major foreign-funded projects and promote foreign investment. Provincial-level development and reform commissions are required to promptly report to the NDRC any foreign-funded project under negotiation, in the contract signing stage and under construction with a total investment of US$1 billion in manufacturing and high-tech industries. Eligible projects will be closely followed up by special task force for co-ordination of major foreign-funded projects in accordance with the prescribed procedures.
Further, the NDRC requires related departments to observe the full implementation of the negative list management system for foreign investment. For foreign-invested projects outside the negative list, no separate restrictions on market access may be set against foreign investment. Soon the NDRC will work with the Ministry of Commerce and other departments to revise the Catalogue of Encouraged Industries for Foreign Investment to encourage foreign investment further.
Full details can be found in the Circular on Further Deepening Reform and Doing a Good Job of Work Concerning Foreign-Funded Projects in Coping with the Epidemic (Fa Gai Wai Zi No. 343 ) issued by the NDRC on 9 March.
Source: National Development and Reform Commission
- Mainland China