National Development and Reform Commission asks reporters to formulate new negative list of foreign investment and opening up of manufacturing industry
I. General Secretary Xi Jinping announced at the Boao Forum a major initiative to expand the opening up. How can these measures be implemented? Can you disclose some news?
This year marks the 40th anniversary of the reform and opening up. General Secretary Xi Jinping’s important speech at the Bo'ao Forum announced major measures for opening up and demonstrated a new vision and blueprint for China’s opening to the outside world in the new era. He was highly appraised and received extensive attention at home and abroad.
In order to implement the spirit of the speech of the General Secretary of the Internship Program, the National Development and Reform Commission is working closely with relevant departments to study and implement specific measures. By formulating a new negative list of foreign investment, major initiatives for opening up to the outside world will be launched as soon as possible. The new negative list of foreign investment is an important document for China's substantial relaxation of foreign investment access. It will be announced as soon as possible in the first half of this year. The new negative list includes two negative lists that apply to the national and pilot free trade zones respectively. The negative list of the free trade zone will be more open than the national negative list. The new negative list will include a series of opening measures in areas such as energy, resources, infrastructure, transportation, commercial circulation, and professional services, in addition to the announced opening measures in the financial and automotive industries. In addition to releasing the opening measures in 2018, the new negative list will also announce the opening measures in the next few years. This will give certain industries a certain period of transition and greatly increase the predictability of opening.
At present, China’s economy has shifted from a high-speed growth stage to a high-quality development stage, and it is imperative that we make breakthroughs in major open issues. In recent years, the market supervision mechanism has been continuously improved, laws and regulations have been more sound, and the institutional foundation has also been laid for a high level of opening up. We believe that through this revision of the negative list of foreign investment, a new round of opening up will effectively promote deep-level reforms and high-quality development, promote industrial competition and optimize the allocation of resources, stimulate greater market vitality, and promote the formation of a new pattern of comprehensive opening.
Second, all sectors are concerned about the opening up of manufacturing industries such as automobiles. What specific considerations and arrangements have been made in formulating new negative foreign investment lists?
General Secretary Xi Jinping announced at the Boao Forum a major move to expand China's manufacturing industry. Open manufacturing industry is the earliest field of China's opening up, and it is also the most full field of market competition. The practice of reform and opening up in the past 40 years has proven that only on the basis of certain development can we fully stimulate market vitality. Only openness can force innovation, and only openness can gather resources at home and abroad.
At present, China's manufacturing industry is basically open, and the direction for further opening up is very clear. It is to achieve full-scale opening up. The new negative list of foreign investment will make manufacturing opening a key point. For example, the auto industry will implement the transitional period for different types of vehicles. In 2018, the ratio of foreign-invested shares of special vehicles and new energy vehicles will be abolished; the ratio of foreign-invested shares of commercial vehicles will be removed by 2020; the foreign-invested-to-equity ratio of passenger vehicles will be removed in 2022, and the joint venture will be cancelled. There are no more than two corporate restrictions.Through the 5-year transition period, the auto industry will cancel all restrictions.Another example is that the shipping industry will cancel the restrictions on foreign-capital shares in 2018, including design, manufacturing and repair. For another example, the aircraft manufacturing industry will cancel the restrictions on foreign-invested shares in 2018, including trunked aircraft, regional aircraft, general aircraft, helicopters, drones, and aerostats.
Manufacturing industry is the main field of global industrial division of labor. Both traditional manufacturing and high-tech manufacturing must maximize the global value chain in an open environment. China's comprehensive opening up of manufacturing industry is a clear indication of our opposition to trade and investment protectionism, and it has clearly supported the wide and in-depth development of economic globalization. We also hope that through the full opening of the manufacturing industry, we will support Chinese and foreign companies in achieving a common development in a level playing field, and encourage Chinese and foreign companies to carry out more extensive and more exchanges of capital, technology, management, and personnel.
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