Action plan, new industry catalog to expand market access for investors

　　A view of the Huangpu River in Shanghai. [Photo/VCG]

　　China encourages foreign businesses to expand investment in sectors including advanced manufacturing, modern services, high-tech industries and energy conservation, further advancing its economic openness and innovation-driven growth, government officials said on Thursday.

　　Speaking at a news conference in Beijing, they said that China will soon introduce the 2025 edition of its industry catalog encouraging foreign investment. The new catalog will further expand market access for foreign investors in key industrial sectors.

　　Their remarks came after the State Council, China's Cabinet, issued an action plan on Wednesday aimed at stabilizing foreign investment this year.

　　As part of the plan, China will lift restrictions on domestic loans for foreign-invested businesses, allowing them to use domestic financing for equity investments. It will also support pilot regions in effectively implementing opening-up policies related to areas such as telecommunications, biotechnology and wholly foreign-owned hospitals, offering comprehensive services to facilitate foreign-invested projects in these sectors.

　　Hua Zhong, head of the department of foreign capital and overseas investment at the National Development and Reform Commission, said the new catalog will reflect China's economic growth trends and industrial advancements.

　　“We will collaborate with other government branches to align with high-standard international economic and trade rules in key areas, including intellectual property protection, industrial subsidies, labor rights and government procurement, ensuring compatibility in regulations, management and standards,“ Hua said.