Bloomberg: 

My question is about the 24-point plan that was released last year and then how you plan to update that plan. The commentary from various chambers of commerce — the Japanese Chamber of Commerce, the EU Chamber of Commerce, and the US Chamber of Commerce — is that although the 24-point plan was a good plan, very little of it was actually implemented in the time since. The only real thing I can see is the extension of tax changes. That's been the main thing that has been implemented from that point. So is this new plan an updating of the 24-point plan? Will that be continued? How would that be implemented to improve the business environment? Thank you.

Zhu Bing: 

Thank you for your question. First of all, last year, the State Council issued the "Opinions on Further Optimizing the Foreign Investment Environment and Increasing the Attraction of Foreign Investment," which is "the 24-point policy" you just mentioned. Since the introduction of this policy, it has received extensive attention and high praise from the industry. The Ministry of Commerce, together with various departments and localities, has been actively promoting the implementation of various policy measures according to their respective responsibilities. Recently, the Ministry of Commerce, along with relevant departments, conducted a phased assessment and evaluation of the implementation of "the 24-point policy," and adopted methods such as questionnaires and symposiums to solicit feedback from foreign-owned enterprises. Overall, more than 60% of the measures have been implemented or have made positive progress. More than 90% of the surveyed foreign-owned enterprises gave a relatively positive evaluation of our work.

Looking specifically at the progress you asked about, out of the 59 measures in six areas, 10 have been completed. For example, the Cyberspace Administration of China has issued a document explicitly prioritizing "effectively safeguarding the legitimate rights and interests of enterprises online" as a key task in reporting cases of online infringement, established a webpage for online reporting and launched the 12377 hotline number. In December, they highlighted a batch of typical cases, including issues raised by foreign-funded enterprises. The Ministry of Finance and the State Taxation Administration have also issued announcements, extending the implementation period of the tax exemption policy for subsidies received by foreign individuals and the tax refund policy for domestic equipment procurement by foreign-funded R&D institutions until the end of December 2027. They have also lowered the threshold for enjoying the tax refund policy related to domestic equipment. The National Intellectual Property Administration and the Ministry of Justice have issued the opinions on strengthening the adjudication of patent infringement disputes in the new era, further improving the administrative adjudication system and mechanisms. The National Immigration Administration has released a new version of the permanent residence identity card for foreigners, making transportation and daily consumption more convenient for foreign nationals in China. They also introduced measures such as relaxing the conditions for applying for port visas for foreign nationals coming to China. Progress has been made in 28 items at this stage. For example, the Cyberspace Administration of China has formulated relevant regulations on cross-border data flow and is currently seeking public opinions. The Ministry of Finance is actively formulating the definition of "domestically produced" for government procurement products. The National Medical Products Administration has proposed requirements on the application materials for market registration of chemical drugs and therapeutic biological products that are previously produced overseas and now produced domestically, and has sought public opinions on the draft announcement. The State Administration for Market Regulation has issued a work notice with measures to deal with policies that discriminate against foreign-funded enterprises and implement local protection. Meanwhile, 21 items are being continuously promoted. For example, the Ministry of Commerce is leveraging the role of special taskforces focusing on major foreign-invested projects under the coordination and service mechanism for foreign trade and foreign investment. They regularly coordinate and resolve difficulties encountered by these projects. The National Intellectual Property Administration supports relevant localities in setting up intellectual property service stations during exhibitions, strengthening exhibition-related intellectual property services such as issuing exhibition certificates, accepting applications for priority examination of patents, and providing comprehensive consultations.

Last month, we held a dedicated roundtable meeting on the implementation of the 24 Measures for Foreign Investment. We invited nine foreign chambers of commerce in China, including the ones you mentioned earlier — the Japanese Chamber of Commerce and the European Chamber of Commerce, as well as representatives from over 60 foreign-invested enterprises. Many foreign-invested companies and chambers of commerce have recognized and appreciated the tremendous efforts made by the Chinese government to improve the business environment. They have said that the Chinese market has huge potential and numerous opportunities, and they will continue to deepen their presence and expand their investment in China.

Next, the Ministry of Commerce, in collaboration with relevant departments, will continue to promote the swift implementation of various measures, evaluate foreign investment policy implementation, and provide timely updates to foreign-invested enterprises. The action plan is a newly issued document by the Chinese government, which calls for intensified efforts by all regions and departments to attract and utilize foreign investment. With this and the 24 Measures for Foreign Investment, we will strive to excel in this aspect of work. If foreign-invested enterprises encounter any difficulties or issues when trying to take advantages of the policies, then we encourage them to provide feedback to us, to help us better unleash the full benefits of these policies. Thank you.