Government Aims to Increase Foreign Investment
At the beginning of the year, the State Council announced that they are drafting policy measures designed to attract more foreign investment. SCIO held a press conference on the topic, but the new policy has not yet been released to the public. They referenced a document called "Several Measures on Promoting Further Openness and Active Utilization of Foreign Capital". Ministry of Commerce (MOFCOM) and the National Development and Reform Commission (NDRC) are also taking part in the drafting process.
The measures propose increased openness in several areas including high-end manufacturing and telecoms. It is unclear what this new openness will be, but they marked it as necessary if China wants to meet development goals laid out in China Manufacturing 2025.
The measures also discuss the issue of fair competition and make reference to increasing efforts to ensure that foreigners have equal-treatment in the government procurement process. Lastly, there will be some new incentives issued at the local level designed to attract foreign investment.
Given recent economic difficulties and an overall decline in foreign investment, China is listening to the cry of foreign businesses to create a more favorable investment environment.