CFIC Introduction
Since the beginning of this year, relevant departments have launched a series of measures to increase efforts to attract foreign investment, which has become an important plus point for attracting foreign investment.
Original title: Is the handling fee for overseas bank cards too high? Good news, it's down! In June, PepsiCo broke ground on its 1.3 billion yuan Shaanxi production base, which is the first time that U.S.-based PepsiCo has laid out a production base in northwest China, and it is also the fifth major investment PepsiCo has made in China in the past five years. "PepsiCo is full of confidence in the high-level opening up of the Chinese market and the high-quality development of China's economy, and has continued to accelerate its investment in China in recent years." Xie Changan, CEO of PepsiCo Greater China, said. PepsiCo's investment is a microcosm of the accelerated process of foreign investment in China. In addition to the broad market and perfect industrial and supply chains, relevant departments have launched a series of measures to attract foreign investment this year, which has become an important plus point for absorbing foreign investment. "With the implementation of a series of policy measures, China's investment environment will be more perfect. I believe that more foreign investors will feel that the next 'China' is still China! The head of the Department of Foreign Investment of the Ministry of Commerce said recently. The investment structure continued to be optimized by 21,764, and the newly established foreign-invested enterprises in mainland China increased by 17.4% year-on-year in the first five months, continuing the rapid growth trend of newly established enterprises since last year. 412.51 billion yuan, the actual use of foreign capital in the mainland fell by 28.2% year-on-year in the first five months, but the scale is still at a historical high. "The decrease in the amount is mainly due to the impact of last year's high base." The person in charge of the Department of Foreign Investment of the Ministry of Commerce said. It should be noted that in the first five months, the actual use of foreign investment in the mainland's manufacturing industry was 117.1 billion yuan, of which 50.41 billion yuan was invested in the high-tech manufacturing industry, accounting for 2.8 and 2.7 percentage points of national investment respectively compared with the same period last year, showing that the mainland's investment structure continued to be optimized. Advanced manufacturing and modern service industries such as artificial intelligence, medical and healthcare, and digital economy have become key areas for many foreign-funded enterprises to increase their exposure to the Chinese market. Cisco is one of them. In April, Cisco announced that it would establish an artificial intelligence laboratory in cooperation with Hong Kong Cyberport to research cutting-edge technologies in the field of artificial intelligence. Cisco also signed a memorandum of understanding with Shanghai Envision Kechuang Intelligent Technology Co., Ltd. to jointly build a more sustainable digital ecosystem in retail and high-end manufacturing. "The development of the artificial intelligence industry needs the cooperation of more enterprises." Huang Zhiming, global vice president and CEO of Cisco Greater China, said that Cisco will work closely with Chinese partners, academic institutions and other parties to continuously deepen China's technological innovation, talent training and industrial chain construction, and promote the development of the artificial intelligence industry. Since the beginning of this year, the policy of stabilizing foreign investment has continued to increase. In terms of investment promotion, more than 10 key investment promotion activities were held at home and abroad, and the regional headquarters of multinational companies were promoted to enter the local area, and the executives of multinational companies met intensively, so as to continue to build the "Invest in China" brand. In terms of service guarantee, the Ministry of Commerce held 11 roundtable meetings for foreign-funded enterprises to coordinate and solve more than 180 difficult problems reported by enterprises. In terms of optimizing the environment, the General Office of the State Council issued the Action Plan for Solidly Promoting High-level Opening-up and Attracting and Utilizing Foreign Investment with Greater Efforts. The Ministry of Commerce (MOFCOM) has carried out an assessment of the Opinions of the State Council on Further Optimizing the Foreign Investment Environment and Increasing the Efforts to Attract Foreign Investment ("24 Articles on Foreign Investment"). The executive meeting of the State Council held on June 26 pointed out that foreign-funded enterprises play an important role in building a new development pattern, and it is necessary to increase efforts to attract and utilize foreign investment, and take multiple measures to stabilize foreign investment. "This meeting emphasized the need to increase efforts to attract and utilize foreign investment, and it is the mainland's statement on foreign investment in terms of policy that will help enhance the attractiveness of foreign investment." Zhan Yubo, director and researcher of the Western Economics Research Office of the Institute of Economics of the Shanghai Academy of Social Sciences, said. Wei Jianguo, vice chairman of the China Center for International Economic Exchanges and former vice minister of the Ministry of Commerce, believes that the global international investment situation is still grim this year, and the importance of stabilizing foreign investment at this time node in the middle of the year will play an important role in deepening the opening up of specific areas in the second half of the year and promoting the manufacturing and service industries to stabilize the basic market of foreign investment and foreign trade. In order to further encourage foreign investment, a reporter from the China Securities Journal learned that a series of new measures are being prepared, including the revision and release of a new version of the "Catalogue of Encouraged Foreign Investment Industries", reducing foreign investment access restrictions, and launching a new round of pilot measures to expand the opening up of the service industry. The new version of the Catalogue of Encouraged Industries for Foreign Investment is expected to be rolled out at an accelerated pace. It is not difficult to see from the adjustment and changes in the catalogue of industries that encourage foreign investment in recent years that advanced manufacturing, modern service industry, high and new technology, energy conservation and environmental protection and other fields are encouraged foreign investment. Hua Zhong, a person in charge of the Department of Utilization of Foreign Capital and Overseas Investment of the National Development and Reform Commission, revealed a few days ago that the National Development and Reform Commission and relevant departments have started the revision of the catalogue of industries that encourage foreign investment. "The revision of the national catalogue will continue to take the manufacturing industry as the key direction to encourage foreign investment, while promoting the integrated development of the service industry and the manufacturing industry, and increasing support for advanced manufacturing, modern service industry, high and new technology, energy conservation and environmental protection." Huazhong said. The launch of a new round of pilot measures to expand the opening up of the service industry will also be accelerated. "In the new round of expanding the opening up of the service industry, it is expected that more opening measures will be introduced in the medical and telecommunications fields." Xiao Benhua, vice president of the Free Trade Zone Research Institute of Shanghai Lixin Institute of Accounting and Finance, said. According to Cai Wei, Chief Strategy Officer of KPMG China Consulting, China's continuous reduction of foreign investment access restrictions, increasing the level of foreign investment liberalization, and carrying out access pilots in the fields of medical care and value-added telecommunications, which are of great concern to foreign-funded enterprises, express China's sincerity in deepening opening-up and optimizing the business environment to attract foreign investment, and indeed create convenient conditions for foreign investment and cooperation in China.
Source of this article: China Securities Journal
Reporter: Wang Shuyan
WeChat editor: Liu Sile
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