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The original title “Five-way advancement by using foreign capital during the 14th Five-year Plan
□Our reporter Ni Mingya
According to the information released by the Ministry of Commerce at the 3rd CIIE on November 5, during the 13th Five-Year Plan period (2016 to 2020), it is estimated that my country’s total investment in foreign capital can reach about US$690 billion, with an average annual investment During the “Twelfth Five-Year Plan” period, an increase of 10 billion US dollars. The Ministry of Commerce stated that in the next step, it will conscientiously implement the deployment of the Party Central Committee and the State Council, scientifically formulate the development plan for the utilization of foreign capital during the “14th Five-Year Plan” period, and focus on five areas of work.
Absorbing foreign capital is stable and positive
According to the “China Foreign Investment Statistics Bulletin 2020” issued by the Foreign Investment Bureau of the Ministry of Commerce and the Investment Promotion Agency of the Ministry of Commerce, from 2016 to 2019, my country’s total foreign capital absorption reached 549.6 billion US dollars, an average annual increase of 1%. From 2017 to 2019, it ranked second in the world for attracting investment for three consecutive years. It is preliminarily estimated that the total scale of foreign investment in the “13th Five-Year Plan” period will reach about 690 billion US dollars, and the average annual investment scale will increase by 10 billion US dollars over the “Twelfth Five-Year Plan” period.
Statistics show that from 2016 to 2019, the total export volume of foreign-funded enterprises reached US$3.9 trillion, accounting for 41.7% of the national total, and the total import volume reached US$3.4 trillion, accounting for 44.8% of the national total; and the total tax paid was 11.4 trillion US dollars. The renminbi accounts for 19.3% of the nation’s tax revenue; it stimulates about 40 million urban jobs.
Zong Changqing, director of the Department of Foreign Investment Management of the Ministry of Commerce, said that unless there are special circumstances, it is expected that the absorption of foreign capital in the fourth quarter of this year will continue to maintain a steady and positive trend, and it is expected to achieve the goal of “stabilizing foreign investment” throughout the year.
Give greater autonomy to the pilot free trade zone
A reporter from China Securities News learned from the foreign investment conference jointly sponsored by the Foreign Investment Bureau of the Ministry of Commerce and the Investment Promotion Agency of the Ministry of Commerce that the Ministry of Commerce will earnestly implement the deployment of the Party Central Committee and the State Council, and scientifically compile development plans for the utilization of foreign capital during the “14th Five-Year Plan” period. Focus on promoting work in five areas.
One is to continue to expand opening up. Accelerate the construction of a new development pattern with the domestic big cycle as the main body and the domestic and international double cycles mutually promoting each other. It is by no means a closed domestic cycle, but a more open domestic and international double cycle. “Let the Chinese market become a world market, a shared market, Everyone’s market”. Continue to reduce the negative list of foreign investment access, and further promote the institutional opening of rules and standards, so as to provide more investment opportunities for foreign businessmen.
The second is to continuously improve the foreign investment management system. Deepen the reform of decentralization, regulation and service, implement the pre-access national treatment plus negative list system, accelerate the establishment of a foreign investment management system and system compatible with the new foreign investment law, and provide support for building a new system for a higher level of open economy. Further optimize the foreign investment information reporting system and strengthen supervision during and after the event.
The third is to continue to strengthen the construction of an open platform. Give the pilot free trade zone greater autonomy in reform and opening up, steadily promote the construction of a free trade port in Hainan, and build a new highland for opening up.
Increase the degree of empowerment to state-level economic development zones and give play to their role as the “main position” of the open economy. Support Beijing to build a comprehensive demonstration zone for the expansion and opening of the national service industry, increase comprehensive pilots for the expansion of the service industry across the country, and promote supply-side structural reforms and industrial structure optimization and upgrading.
Fourth, continue to protect the legitimate rights and interests of foreign businessmen. Strictly implement the Foreign Investment Law and its supporting regulations, continue to improve the open and transparent foreign-related legal system, strengthen the protection of intellectual property rights, increase the investigation and punishment of counterfeiting and infringement, improve the complaint work network of foreign-funded enterprises, and effectively protect the legitimate rights and interests of foreign businessmen.
Fifth, continue to optimize the business environment. The competitiveness of the business environment is the international competitiveness. In accordance with international first-class standards and prevailing economic and trade rules, we will further do a good job in securing business stability and attracting investment, ensuring equal treatment and fair competition between domestic and foreign enterprises, and continuously optimizing the market-oriented legalized international business environment. Speed up the signing of free trade agreements and investment agreements with relevant countries and regions, and unswervingly promote the liberalization and facilitation of global trade and investment. “We must create a better open environment to reassure foreign businessmen with China’s determination to open up, and the open policy will benefit foreign businessmen.”
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