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People's Daily Online>>China Business

China opens wider to foreign investment

By Ding Qingfen and Lan Lan (China Daily)

08:07, December 30, 2011

BEIJING - China will encourage foreign companies to invest more in domestic industries to further make good on the country's commitment to open its economy, according to guidelines released on Thursday.

In a new version of the Foreign Direct Investment Industry Guidelines (2011), the Chinese government is encouraging foreign investors to put money into advanced manufacturing, the service industry and certain business concerned with energy conservation, advanced technology, renewable sources of energy, new materials and advanced-equipment manufacturing.

Government officials and experts said the new guidelines are in keeping with proposals contained in China's 12th Five-Year Plan (2011-2015), which seeks to lay the foundation for a more innovative and greener economy.

On Thursday, the Ministry of Commerce and the National Development and Reform Commission (NDRC) issued the guidelines, which will replace a previous version of the rules that was published in 2007. They are expected to come into force on January 30.

Compared with the 2007 version, the new guidelines encourage foreign companies to invest in a greater number of industries and reduce the number of industries that are off limits to such investment.

"The new version indicates China's strong commitment to opening its market wider," said Wang Zhile, director of the ministry's research center for transnational cooperation. "It's absolutely a positive signal."

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