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China encourages foreign investment in more industries

Pub Date:2020-12-29 08:54 Source:Xinhua

China's National Development and Reform Commission and the Ministry of Commerce on Monday released a revised industry catalog that names more sectors encouraging foreign investment.

Compared with the 2019 version, the list has 127 more items, a rise of 10 percent in the number of sectors encouraging foreign investment, according to the commerce ministry.

Meanwhile, up to 88 existing items have been modified to expand their coverage.

New sectors added to the national-level catalog include respirators, ECMO (extracorporeal membrane oxygenation) devices, online education service and 5G mobile telecommunication technologies.

Foreign investors entering industries on the catalog will enjoy preferential policies in fields such as taxation and land use subject to laws and regulations.

The new catalog will come into effect on Jan. 27, 2021, the ministry said.

Editor:Fanxi Feng

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