Mo Gaoyi:

Due to time constraints, we will take one last question.

Market News International:

Since the beginning of this year, foreign direct investment has continued to decrease. But foreign investors' interest in China's capital markets has been rising. What new measures will China take to expand opening and attract foreign investment? Thank you.

Mo Gaoyi:

Mr. Han, please answer this question.

Han Wenxiu:

Opening up is our basic national policy, and foreign-funded enterprises are important participants and contributors to China's economic development. Due to changes in the international environment and other factors, there has been a recent decline in the actual use of foreign investment. This is a temporary phenomenon. As the business environment improves and market opportunities increase, our use of foreign investment will continue to expand. The third plenary session of the 20th CPC Central Committee made necessary arrangements to promote high-standard opening up and expand the use of foreign capital. Here, I will emphasize three points:

First, we will steadily expand institutional opening up. We will actively align with high-standard international economic and trade rules. We aim to achieve compatibility in rules, regulations, management and standards across various areas. These include property rights protection, industrial subsidies, environmental standards, labor protection, government procurement, e-commerce and finance. Additionally, we will establish an efficient, convenient and secure cross-border data flow mechanism. We will create a transparent, stable and predictable institutional environment. Recently, we implemented unilateral visa-free policies for several countries. These policies have been widely welcomed and achieved good results. We will further improve convenience measures for business travelers and tourists coming to China, focusing on areas such as residence, medical care and payments.

Second, we will further relax market access. We will promptly implement the requirement to remove all restrictions on foreign investment access in the manufacturing sector, expand the industry catalog of sectors encouraging foreign investment, and reasonably shorten the negative list for foreign investment access. We will expand the opening up of the service sector, fully implement the negative list for cross-border trade in services, and promote orderly opening in fields such as telecommunications, the internet, education, culture and healthcare. Additionally, we will accelerate the development of offshore trade.

Third, we will effectively ensure national treatment and protect the legitimate rights of foreign-funded enterprises. We will support the development of both domestic and foreign enterprises without discrimination. We'll guarantee national treatment for foreign enterprises in areas such as access to production factors, qualification permits, standards setting and government procurement. In recent years, many good practices have emerged across the country in protecting foreign enterprises' commercial secrets and intellectual property rights, effectively safeguarding their investment interests.

Currently, economic globalization faces significant challenges. Opposing unilateralism and protectionism, as well as maintaining global economic order and the security and stability of industrial and supply chains, are the shared responsibilities of governments and enterprises worldwide. China remains a fertile ground for investment from all countries. We will continue to foster a world-class business environment that is market-oriented, law-based and internationalized. We are willing to share the enormous opportunities presented by the development of China's new quality productive forces and our journey toward Chinese modernization. We look forward to witnessing foreign businesses grow together with the Chinese economy. Thank you.

Mo Gaoyi:

Thank you to all the speakers and members of the press. This concludes today's news conference.

Translated and edited by Guo Yiming, Zhang Jiaqi, Li Xiao, Qin Qi, Zhang Rui, Li Huiru, Mi Xingang, Liu Sitong, Cui Can, Liu Jianing, Wang Yiming, Wang Wei, He Shan, Zhang Lulu, Huang Shan, Yuan Fang, Zhou Jing, Zhang Junmian, Ma Yujia, Wang Qian, David Ball, Daniel Xu, and Jay Birbeck. In case of any discrepancy between the English and Chinese texts, the Chinese version is deemed to prevail.