Pic: Adobe Stock
The plan emphasises encouraging foreign equity investment in the country to attract more high-quality foreign direct investment (FDI) in the country's listed companies.
China will lift restrictions on domestic loans for foreign-invested enterprises, allowing these firms to use domestic financing for equity investments, as per the plan.
It supports foreign enterprises to participate in China's new industrialisation, with a focus on high-tech fields.
It calls for clarifying standards for the government procurement of domestic products, and for measures to ensure products produced by enterprises of different ownership within China participate equally in government procurement activities, according to a state-controlled media outlet.
The plan was approved at a State Council executive meeting held earlier this month.
Meanwhile, the country’s manufacturing sector utilised over 220 billion yuan ($30.3 billion) in foreign investment last year. China has completely lifted all foreign investment restrictions in the manufacturing sector.
In 2024, 59,080 new foreign-invested enterprises were set up in China—up by 9.9 per cent year on year. China attracted an annual overseas investment of over 1 trillion yuan ($139.5 billion) for three consecutive years from 2021 to 2023.
Fibre2Fashion News Desk (DS)