Official data showed that Chinese companies' accumulated investment in overseas trade cooperative zones hit 30.7 billion U.S. dollars, which generated 2.42 billion U.S. dollars in tax and fees, and created 258,000 local jobs by the end of 2017.
The scope of the opening up of China's manufacturing sector continues to increase, according to the minister. The recently revised Catalogue for the Guidance of Foreign Investment Industries (2017) has substantially reduced the access restrictions for foreign investment.
In terms of manufacturing products, 22 of the 31 categories, 167 of the 179 sub-categories, and 585 of the 609 branch-categories are fully open to foreign investment, accounting for 71 percent, 93.3 percent and 96.1 percent, respectively, of the categories.
China will implement its commitments to further open up such sectors as automobiles, shipbuilding and aircraft manufacturing by easing restrictions over the proportion of foreign equity as early as possible, especially in the auto sector, Miao said.
The country will also improve alignment with international economic and trade rules, and provide foreign investors with more and better opportunities, he added.
"China's manufacturing industry has been and always will be upholding the fundamental principle of mutual benefit and open cooperation," Miao said.
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