China to take new measures to boost foreign investment

BEIJING - China will take a series of new measures this year to solicit more foreign investment, Ning Jizhe, Deputy Head of the National Development and Reform Commission, said. China will greatly relax market access, promote investment facilitation and encourage foreign capital entry in more regions, he told a press conference on the sidelines of the national legislature's annual session.

China’s State newsagency, Xinhua, said the negative list approach to market entry, which states sectors and businesses that are off limits to foreign investment, will be expanded nationwide.

China will fully open up its general manufacturing and substantially improve the opening level of the service sector, Ning said, and will ensure fair competition between domestic and foreign enterprises in an all-round way.

Ning also pledged strict protection of intellectual property rights.

And more favourable policies concerning capital transfer and land use, which are enjoyed by domestic investors, would be given to foreign firms when they invest in China's middle, western and north-eastern regions, he said.  www.webershandwick.cn (ATI).