On May 10, Ministry of Commerce held the national foreign investment work conference in Beijing to summarize the foreign investment utilization during the 12^th Five-year Plan period, deeply study and analyze current international and domestic situation for foreign investment utilization and deploy the tasks for foreign investment utilization during the 13^th Five-year Plan period. Commercial Minister Gao Hucheng attended the meeting and delivered a speech.

 

During the 13^th Five-year Plan period, China’s foreign investment utilization is confronting new situation, Gao stressed. China, boasting the world’s 2^nd largest consumption market, complete industrial system, improved infrastructures and rapid-growing talent teams, features unique advantages in foreign investment utilization. Moreover, the increasing fluctuation of foreign direct investment(FDI) to China, the keener competition in attracting investment from various countries, the continuous increase of China’s labor cost and the investment environment of China in need of further improvement and other issues bring new challenges to the country’s foreign investment utilization.

 

In order to achieve good foreign investment utilization during the 13^th Five-year Plan period, Gao demanded to observe the unified deployment of the CPC Central Committee and the State Council and make efforts in stabilizing foreign investment scale and speed, improving comprehensive quality of foreign investment utilization, and focus on the work in following four aspects: accelerating the structural reform of the supply side of foreign investment utilization to simplify establishment procedures for foreign-funded enterprises and stabilize foreign enterprises’ investment scale and speed; improving the layout for regional opening-up to improve the construction quality of Free Trade Zones, promote the innovation-driven development of state-level economic and technological development zones, and improve the development level of bordering cooperation zones and trans-border cooperation zones; continuing uplifting foreign funds entry restrictions to expand the opening-up of service industry and ordinary manufacturing and build a legalized, international and convenient business environment; and improving the supervision during- and after-service to innovate in the service for foreign investment supervision for a more scientific, more standardized and more transparent supervision.

 

Source: Translated by Invest Guangzhou, May 11, 2016