·China will fully relax or cancel the restrictions on foreign shares

Questioning on the spot: "This year is the 40th anniversary of China's reform and opening up. In the past 40 years, foreign investment in China's economic and social development should be said to have made a considerable and quite important contribution. The scale of attracting foreign investment last year also set a record high, but there are Some foreign-funded enterprises complain that China's current environment of attracting foreign investment has changed, not as good as before. I don't know how to look at the NDRC. What measures will the Chinese government take to attract foreign investment?"
Ning Jizhen, deputy director of the National Development and Reform Commission, said that first, the effectiveness of China's investment is significant. Last year, China attracted foreign direct investment reached US$131 billion, ranking second in the world. In the past 40 years of reform and opening up, foreign investment has become an important part of the Chinese economy. In terms of import and export, foreign-invested enterprises are close to 50% of the country's total import and export volume; nearly 25% of the country's industrial output value; 20% of national tax revenue in taxation; and about 10% of employment in employment. . At the same time, China's rapid growth has also provided a good opportunity for the development of foreign-funded enterprises, achieving mutual benefit and common development.
Second, China's investment policy has been continuously improved. The reason why we attract foreign investment has been achieved by the continuous expansion of opening up and improvement of the investment environment. In particular, in recent years, a series of policies for actively and effectively utilizing foreign capital have been introduced to adapt to the changes in the complicated economic situation at home and abroad. First, the State Council successively issued two important documents on the use of foreign capital: one was the Notice on Expanding the Measures for the Active Use of Foreign Capital in Opening to the Outside World, which was introduced at the beginning of last year. One was the Notice on Several Measures for Promoting Foreign Capital Growth, which was promulgated last August. . The introduction of two important policy documents within one year is still rare in history. It has introduced more than 40 specific policy measures to expand openness, create a level playing field, and strengthen investment promotion.
The second is to implement a negative list management system for foreign investment in the country. In 2015 and 2017, the “Guidance Catalogue for Foreign Investment Industries” was revised twice, and the restrictions on foreign investment access were reduced by 65%. The reform of the foreign-funded management system, at present, more than 96% of foreign capital is subject to local record, and does not need to come to Beijing. The third is to promote fair competition between domestic and foreign-funded enterprises. This is a concern of foreign-funded enterprises. For example, the “Made in China 2025” policy, science and technology plan projects, government procurement, and standards development all give equal treatment to domestic and foreign-funded enterprises. According to the UNCTAD survey, China's most attractive investment destinations in the world are still ranked second, which is consistent with the scale of attracting foreign investment, and is the second. In January of this year, the 2018 China Business Environment Survey released by the American Chamber of Commerce showed that 76% of member companies believe that China's investment environment is improving or maintaining stability.
Third, improving the investment environment is still on the way. We should be soberly aware that we must continue to make great efforts to improve and improve the investment environment, and we need to continue to take hard measures. In accordance with the requirements of the 19th National Congress of the Communist Party of China, the Central Economic Work Conference and the "Government Work Report", we must work hard to promote a new pattern of comprehensive openness and promote high-quality development with a high level of openness. In particular, it is necessary to dock internationally accepted economic and trade rules, build a world-class business environment, and promote the steady growth of foreign investment.
Mainly do the following three aspects of work: First, greatly relax market access. In 2018, the National Development and Reform Commission will further revise the negative list of foreign investment with the relevant departments of the State Council, gradually expand the negative list of foreign investment piloted in the free trade zone to the whole country, substantially increase the openness of the service industry, fully liberalize the general manufacturing industry, and relax or cancel in some areas. Foreign shares are limited, and restrictions on the scope of business are relaxed or abolished.
Second, we will vigorously promote investment facilitation, continue to promote the implementation of State Council policy documents, further simplify the procedures for the establishment of foreign-invested enterprises, and promote the implementation of industrial and commercial registration and business filing. Simplify the administrative examination and approval of enterprise production and operation, and reduce the time for fire protection, environmental assessment, land use approval, water and electricity access, and import and export customs clearance. Promote fair competition between foreign-funded enterprises and domestic-funded enterprises, strictly protect the intellectual property rights of foreign-funded enterprises, and effectively protect the legitimate rights and interests of foreign-funded enterprises. Formulate basic foreign investment laws.
The third is to attract foreign investment in a wide range. Increase the intensity of opening up in the western region, inland areas and border areas, and foreign-invested enterprises that have moved to the central and western regions and the northeast region to enjoy preferential policies for funds and land that support the industrial transfer and processing trade, and allow local governments to be within the scope of legal authority. The company has formulated preferential policies for attracting investment. We will implement the re-investment and deferral of domestic profits of overseas investors, fully replicate the experience of the free trade zone, and explore the construction of a free trade port.
"To fully liberalize the general manufacturing industry, relax or cancel the restrictions on foreign shares in some areas, and relax or cancel the restrictions on business scope" means that Tesla's wholly-owned construction in China may become possible.
In the "Guidance Catalogue for Foreign Investment Industries" issued in June 2017, it has clearly opened up the restrictions on the number of joint ventures established by foreign companies in China to produce pure electric vehicle products, as well as the foreign investment ratio limit of automobile power batteries.
In August 2017, the State Council issued the Notice on Several Measures for Promoting Foreign Capital Growth, which indicated that it will further reduce the restrictions on foreign investment access. On September 15, 2017, Meng Hao, deputy director and spokesman of the Policy Research Office of the National Development and Reform Commission, said that under 2017 In the first half of the year, new energy vehicles and other fields will further relax foreign investment.

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