Beijing, Monday, September 9, 2024- China will remove all restrictions on foreign investment in the manufacturing sector starting November 1, 2024, according to an announcement from the National Development and Reform Commission (NDRC) on Sunday.
The updated 2024 negative list, jointly issued by the NDRC and the Ministry of Commerce (MOC), reduces the number of restricted sectors from 31 to 29, effectively eliminating barriers in manufacturing.
This policy shift is part of China’s broader strategy to advance its open economy and attract more foreign capital. The updated list marks a significant step towards integrating China further into the global market and supporting its economic growth.
The NDRC plans to work closely with the MOC and other government bodies to implement these changes, which include adopting a pre-establishment national treatment approach and updating the negative list for foreign investment access. These measures are designed to streamline the investment process and enhance China’s appeal as a destination for foreign investment.
The move reflects China’s commitment to creating a more transparent and accessible business environment, aiming to boost economic development and competitiveness in the global market.
