The Ministry of Commerce has come out with 22 measures to further expand high-level opening up and attract more resources, including technologies and talents from global markets, to reinforce China's strengths in attracting foreign direct investment.

The ministry will implement a pre-establishment national treatment plus negative list management system regarding market access. The 2020 version of the new industry catalogue will also encourage foreign investment, promote the integration of attracting foreign capital, talents and technologies and compile the development plan for utilizing foreign investment during China's 14th Five-Year Plan (2021-25) period, a circular unveiled by the ministry on Monday said.

The 22 measures have been put forward in five areas, including improving government services and building a better legal environment for overseas investors to plan work for stabilizing foreign investment this year.

In addition to promoting the integration of international and domestic industrial chains, the country will establish a cluster of pilot areas for trade-in services, support the innovation and industrial upgrading of national economic development zones and improve the growth level of cross-border economic cooperation zones to actively promote opening-up policies on the regional level.

(Source: China Daily)