China sets out 15 ideas to boost foreign investment, with ‘easing’ expat travel, smart manufacturing in focus
- National Development and Reform Commission sets out plan to stabilise and further increase foreign investment into China
- Foreign investors have increasingly raised concerns over the mounting challenges of operating in the world’s second-largest economy under zero-Covid policy
Incentives for financing innovation centres and smart manufacturing, as well as moves to “ease” travel by executives, technicians and their families, have been included in 15 measures by the top state planner to stabilise and further increase foreign investment into China.
The focus on smart manufacturing comes amid a push to move up the industrial chain, while travel by expats and their families has been severely curtailed by Beijing’s zero-Covid policy.
The document released by the National Development and Reform Commission (NDRC) on Tuesday highlighted how foreign-invested companies will be encouraged to locate research and design centres in China.
China’s state planner also said that it will offer support for firms to undertake national technology projects and to attract international talent.
“All localities should make good use of the ‘fast lanes’ for the exchange of Chinese and foreign personnel, and further clarify the standards and procedures in light of local conditions, so as to provide convenience for foreign personnel to come to China,” said the NDRC, stressing that travellers will still need to comply with coronavirus control policies.
This, coupled with supply chain issues, as well as China’s deteriorating bilateral relations with the West, has been impacting investor confidence, with an increasing number of foreign companies considering their future plans.