China's new policies to promote foreign investment in manufacturing

27 Oct '22

1 min read

Pic: Shutterstock/ Yuangeng Zhang

China has announced various measures for enabling foreign investment in the manufacturing industry. The country’s government has stated that it will facilitate exports and imports of foreign-invested manufacturing firms and provide assistance regarding trade and customs clearance.

Aiding the entry and exit of executives, technicians, and their families of multinationals and foreign-invested firms in China keeping in mind COVID-19 pandemic protocols was recommended in a document jointly released by the National Development and Reform Commission and five other government bodies.

Other suggestions listed in the document included guiding foreign investors to diversify their investment in sectors such as carbon peaking, neutrality, and sci-tech innovation in addition to industry-focused areas such as the western, north-eastern, and central regions of China.

According to data from the National Bureau of Statistics, the country’s value-added industrial output increased by 6.3 per cent year-on-year in September 2022. Industrial output is an index for measuring the activity of businesses with an annual business turnover of a minimum of 20 million yuan (around $2.81 million).

Fibre2Fashion News Desk (NB)

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