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Wuhan speeds up internationalization

March 24 2019

Wuhan, Central China's Hubei province, will promote high-quality development and accelerate its internationalization, said mayor Zhou Xianwang at a China Development Forum sub-forum in Beijing.Wuhan is prioritizing the construction of a new highland for the development of world-class industrial clusters in optoelectronic information, automobiles and parts, biomedicine and medical equipment, and environmental protection, Zhou said.In its latest chapter of scientific and technological revolution and industrial transformation, the city will spare no effort in creating a platform for international technological innovation in optoelectronic information, digital design and manufacturing, and biosafety and technology, said Zhou.To make Wuhan Central China's gateway for international businesses, the city is building a global logistics hub, the mayor said, adding that Wuhan would like to strengthen supply chain cooperation to promote the construction of international and interconnected infrastructure in the city.The city is also making every effort to create a globalized and convenient business climate, fully compliant with international laws, for international investors, said the mayor.Zhou outlined how Wuhan will fully implement the Foreign Investment Law, deepen reform to facilitate investment and trade, and apply the pre-access "national treatment plus negative list" management system.Foreign companies not on the negative list will be treated as equals with Chinese companies, Zhou said.Themed Greater Wuhan: Embracing the World, the event attracted over 100 business leaders from 30 international companies, professors from world-famous universities, and government officials.

China will further promote and protect foreign investment

March 16 2019

Promote all-round opening up and foster new advantages in International Economic Cooperation and Competition.Promote the steady improvement of foreign trade and diversification of the export market. Expand the coverage of export credit insurance. Reform and improve new business support policies such as cross-border e-commerce. Promote the innovation and development of service trade, guide the transformation and upgrading of processing trade, transfer to the central and western regions, and play a good role in the comprehensive bonded zone. Optimize the import structure and actively expand imports, and accelerate the improvement of customs clearance and facilitation.Increase the intensity of attracting foreign investment. Further relax market access, reduce the negative list of foreign investment access, and allow more areas to implement Wholly Foreign-owned Enterprises. We will implement reform and opening up measures in industries such as finance and improve the open policy of the bond market. Accelerate the docking with internationally accepted economic and trade rules, improve policy transparency and consistency of implementation, and create a fair market environment for equal participation and fair competition between domestic and foreign-funded enterprises. Strengthen the protection of foreign legal rights and interests. China's investment environment will certainly get better and better, and the opportunities for enterprises from all over the world will surely increase.Promote trade and investment liberalization and facilitation. Accelerate the construction of a high-standard free trade zone network, promote regional comprehensive economic partnership agreements, China-Japan-Korea Free Trade Area, and China-EU investment agreement negotiations, and continue to promote Sino-US economic and trade consultations. China adheres to mutually beneficial cooperation and win-win development and has consistently advocated the settlement of trade disputes through equal consultation.

Last year, China actually used foreign capital of 885.6 billion yuan.

March 10 2019

"The Global Investment Trends Monitoring Report" released by UNCTAD shows that global foreign direct investment continued to decline last year and fell to the lowest level after the international financial crisis. In this context, China successfully achieved the goal of “Stable Foreign Investment” and used foreign capital to create a record high.Since the beginning of this year, the new foreign investment plans have been on the scene: American oil company-Exxon Mobil Corporation plans to build a chemical complex in Daya Bay Petrochemical District, Huizhou, Guangdong. BT is the first international telecommunications company to obtain a national telecommunications license, Tesla Super factory started construction in Shanghai... Last year, the actual use of foreign capital was equivalent to US$135 billion, a new record.The use of foreign capital structure continued to optimize, and the use of foreign capital in high-tech manufacturing increased by 35.1%.Last year, the global investment situation was sluggish, and the number of foreign capital used in China was very bright:"60,000" - Last year, more than 60,000 new foreign-funded enterprises were established in China, a year-on-year increase of 69.8%. Nearly 1,700 large projects with contractual foreign investment of more than US$50 million, an increase of 23.3%. Major investment projects such as Tesla and BMW have made positive progress."135 billion US dollars" - Last year, China's actual use of foreign capital was 885.6 billion yuan, equivalent to 135 billion US dollars, an increase of 3% year-on-year.In 2019, China will be more attractive in the global investment market.

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