An executive meeting of China's State Council, presided over by Premier Li Qiang on Monday, reviewed and approved the 2024 negative list, which limits or restricts certain economic sectors for foreign investment access.
The new negative list says China will completely abolish entry barriers to foreign investors in the manufacturing sector, while accelerating the opening up of sectors such as telecommunications, education and health care services.
The State Council also approved a set of guidelines on promoting the high-quality development of the services trade through high-level opening up.
The State Council stressed that accelerating the development of the services trade is essential to expand high-level opening up and foster new foreign trade drivers.
Efforts should be made to promote innovative development in key services trades to integrate them with the goods trade, according to the State Council.
The State Council also highlighted efforts to create new services trade growth drivers, and to support the international development of professional services such as finance, consultation, design and certification.
The meeting discussed measures focused on strengthening policy coordination in taxation, finance, science and technology, industry and human resources, to foster innovative SMEs that use specialized, sophisticated technologies to produce novel or unique products.
Efforts must also be made to make SMEs smarter, more digitalized and eco-friendly in a bid to enhance their core competitiveness, according to the State Council.
Noting that safety is the lifeline of nuclear power development, the State Council stressed the need to strengthen safety regulations to ensure the utmost safety of nuclear power and promote the healthy development of the industry.
China approves 2024 negative list for foreign investment access
Macao has been emerging as a global hub for conventions and exhibitions in recent years by exploring the enormous opportunities in the sector, driving the region to advance its economic diversification and embrace a brighter future.
Macao has received many awards this year, such as the Best Convention City (Asia) and the Best BT-MICE City, showcasing the recognition for and influence of Macao's exhibition industry.
More than 1,000 electronic game enthusiasts from all over the world gathered recently in Macao to participate in a esports themed event.
Su Zhili, organizer of the event, said that Macao's rich experience in hosting large-scale events, coupled with its good infrastructure, has driven him to choose the region as an ideal destination to hold such an activity.
"Macao has held many similar large-scale events. It has rich experience, and the facilities at the venue are relatively mature, so we can start our work comfortably," said Su.
During the first three quarters of 2024, Macao held more than 1,000 conferences and exhibitions in total.
"We will invite more professional, special conferences to be held in Macao and also cultivate more exhibition brands with international influence in Macao, so as to promote Macao's exhibitions to be more market-oriented, professional, international, digital and greener from various aspects. This is our goal," said Elaine Wong, member of the Macao Commerce and Investment Promotion Institute.
In addition, multiple large exhibitions and conferences, such as the Macao International Trade and Investment fair, the Macao Franchise Expo, and the International Infrastructure Investment and Construction Forum, are held regularly in Macao.
With the introduction of a series of policies and measures to facilitate the exchanges between the mainland and Macao, as well as the construction and development of the Guangdong-Hong Kong-Macao Greater Bay Area and the Guangdong-Macao In-Depth Cooperation Zone in Hengqin, Macao's convention and exhibition industry will embrace more opportunities for development in the foreseeable future.
"We have such a good industrial base in the Greater Bay Area. The mode of 'Convention and Exhibition + Industry' not only integrates the industries of Macao, but also the industries of the Greater Bay Area. In addition, Macao actively integrates into the national development and plays a role in the Belt and Road. Why are we so confident in Macao's convention and exhibition sector? Because it is backed by the motherland, and the country gives Macao great support," said Alan Ho, chairman of the Macao Association of Convention, Exhibition and Tourism Sectors.
Macao emerges as global hub for conventions and exhibitions, driving economic diversification and international recognition
