Xing Huina:

The next question will be the last due to time constraints.

Phoenix TV:

The Central Economic Work Conference proposed "expanding high-level opening up." Could you please share with us the new measures the NDRC has taken to accelerate the construction of a new system for high-level opening-up and to attract and utilize foreign investment more effectively? Thank you.

Liu Sushe:

I will answer this question. In recent years, China has made significant progress in advancing high-level opening up. A series of policies and measures have been implemented to maintain stability in foreign investment, resulting in continuous improvements in the environment for foreign investment. Despite the global downturn in cross-border investment, China maintained a historically high level of actual foreign direct investment (FDI) utilization in the first 11 months of 2023, with the number of newly established foreign-funded enterprises increased by 36.2% year-on-year, and investment attraction in the high-tech manufacturing sector continued to grow. In line with the arrangements of the Central Economic Work Conference, the NDRC, in collaboration with relevant stakeholders, will prioritize institutional openness and focus on areas such as investment, trade, finance, and innovation. Efforts will be made to build a new system for a higher-level open economy, implement policies for liberalizing and facilitating high-level investment and trade, and continue to emphasize both attracting foreign investment and promoting outbound investment.

In terms of attracting foreign investment, we will continue to work on policies and services to promote the high-quality development of utilizing foreign investment. First, we will accelerate the issuance of policies. The national version of the negative list for foreign investment access will be revised, and all restrictions on foreign investment access in the manufacturing sector will be comprehensively lifted. We will accelerate introducing and implementing comprehensive policies to attract and utilize foreign investment. Through a package of practical measures such as increasing support and guarantee policies and aligning with high-standard international economic and trade rules, we will focus on solving the difficulties and bottlenecks faced by foreign-funded enterprises. Second, we will expedite the implementation of projects. In recent years, we have actively engaged special work teams for major foreign investment projects and have successively launched seven batches of such projects. The first six batches consist of 40 projects that have attracted a total investment of $73 billion, with 23 projects fully or partially put into operation. Some of these projects are the largest overseas investment projects or production bases of the relevant foreign-funded enterprises. The seventh batch, comprising 11 projects, has a planned total investment exceeding $15 billion, covering various fields such as biomedicine, automobile manufacturing, new energy batteries, and chemical engineering. Third, we will continuously optimize services. We will coordinate and resolve issues related to national-level land use, sea use, environmental impact assessments, and energy consumption for project implementation. We will also expedite the implementation of major foreign investment projects. Additionally, we will organize a series of international industrial investment cooperation events, establish platforms for investment docking between multinational companies and localities, improve the mechanism for direct contact with foreign-funded enterprises, and promptly address concerns, meet demands, and provide services.

In terms of promoting outbound investment, we will strengthen policy communication and coordination with relevant partner countries. We will deepen cooperation in capacity building for the Belt and Road Initiative, third-party market cooperation, infrastructure connectivity, and cooperation in livelihood projects. We will guide enterprises to continuously create high-quality, landmark projects and "small and beautiful" projects based on market principles and international norms. This approach aims to realize complementary advantages, mutual benefits, and win-win outcomes that will benefit people from all countries and make greater contributions to the development and prosperity of the global economy. Thank you.

Xing Huina:

Today's press conference ends here. Thank you to the three speakers and also to all of our media friends. Goodbye, everyone.

Translated and edited by Xu Xiaoxuan, Wang Wei, Xu Kailin, Heshan, Lin Liyao, Ma Yujia, Liu Caiyi, Yuan Fang, Mi Xingang, Zhang Rui, Zhu Bochen, Zhang Tingting, Zhang Junmian, Li Huiru, David Ball, Tom Arnsten, and Jay Birbeck. In case of any discrepancy between the English and Chinese texts, the Chinese version is deemed to prevail.