China will step up efforts to advance high-level opening-up and further optimize business environment for foreign-invested enterprises under the unified national market drive, an official with the Ministry of Commerce said in Beijing on Tuesday.
Li Weizheng, deputy director of the Department of Market System Construction of the Ministry of Commerce, made the pledge at a press conference when asked how the ministry will promote the construction of a unified national market with a high-level opening-up.
Li said the Ministry of Commerce is committed to advancing high-level opening-up and actively aligning with high international economic and trade rules to foster the unified national market.
The ministry will also continue to lift market access restrictions for foreign investment, he said.
"So far, the market access restrictions within the national version of foreign investment negative lists have been reduced to 29 items. In the manufacturing sector, market access restrictions on foreign investment have been completely lifted. As for service sector, efforts have been made to orderly expand openness in such areas as telecommunications, the internet, education, culture, and medical care. In 2024, a national version and a free trade zone version of the negative list were released to promote further openness in the cross-border service trade sector. Previously, six government departments, including the Ministry of Commerce, jointly revised and released the rules on foreign investors' strategic investment in listed companies to further lower the barriers for foreign investment and encourage foreign capital to engage in long-term and value-based investments," said Li.
He said the Ministry of Commerce will exert efforts to further optimize the business environment for foreign-invested enterprises. In 2024, the ministry carried out 15 roundtable discussion for foreign-invested enterprises to address their over 370 issues.
"In the consumer goods trade-in program, we have provided equal support for foreign-invested enterprise to participate. In the vehicle scrappage and renewal program, new cars of foreign brands account for approximately 35 percent, which has helped drive faster sales growth for foreign automakers. And at the same time, many foreign nationals have also enjoyed the trade-in subsidies," said Li.
Li added that the ministry is also working to align its practices with high international trade standards, while integrating domestic and foreign trade as a key strategy for facilitating dual circulation in the economy.
China on the same day released a guideline for building a unified national market. The move is part of the efforts to implement the key tasks outlined at the tone-setting Central Economic Work Conference held in December 2024.
The guideline outlined key measures including unifying the underlying institutions and rules of the market, improving the high-standard market infrastructure connectivity, building a unified market for factors and resources, advancing the high-standard integration of goods and services markets, enhancing fair and unified regulation, and curbing unfair market competition and improper intervention.
China to further optimize business environment for foreign investors: official
