Hot News｜Ministry of Commerce: More than 60% of the “24 Foreign Investment Policies” have been implemented

Hot News｜Ministry of Commerce: More than 60% of the “24 Foreign Investment Policies” have been implemented

Invest in Guangdong 2024-02-08 14:36 Guangdong

On February 5, 2024, the State Council Information Office held a regular briefing on the State Council’s policies to create a market-oriented, legal and international first-class business environment. To attract foreign investment and promote the development of foreign-invested enterprises in China, it is necessary to further improve a first-class business environment that is market-oriented, international and legalized. In 2023, the State Council issued the "Opinions on Further Optimizing the Foreign Investment Environment and Increasing Attraction of Foreign Investment". Half a year later, how is the implementation of the "Opinions"?

In response, Zhu Bing, director of the Foreign Investment Management Department of the Ministry of Commerce, responded that more than 60% of policy measures have been implemented, and 10 have been completed, including "effectively safeguarding the legitimate rights and interests of enterprises on the Internet" as a key task for reporting online infringement information; The implementation period of the tax exemption policy for personal allowance subsidies and the tax refund policy for foreign-funded R&D institutions purchasing domestic equipment has been extended to the end of December 2027.

Zhu Bing introduced that in August 2023, the Ministry of Commerce, together with 29 departments including the Central Propaganda Department and the Central Cyberspace Affairs Office, extensively listened to multinational companies, foreign-funded enterprises, foreign business associations such as the European Chamber of Commerce in China and the American Chamber of Commerce in China, as well as some local governments. Opinions and suggestions from all aspects focused on the business environment issues that foreign-funded enterprises are concerned about, responded to the concerns and demands of foreign-funded enterprises on China's investment environment, and put forward a number of targeted policy measures. On this basis, the " The Opinions on Further Optimizing the Foreign Investment Environment and Increasing the Attraction of Foreign Investment are often referred to as the “24 Articles of Foreign Investment.”

It has been half a year since the policy was released, and various departments and localities are working hard to promote the implementation of various policy measures according to their division of responsibilities. Not long ago, the Ministry of Commerce, together with relevant departments, conducted a phased review and evaluation of the implementation of the "24 Articles on Foreign Investment" and listened to the evaluations of foreign-invested enterprises in the form of questionnaires and symposiums. Overall, more than 60% of policy measures have been implemented or have made positive progress, and most foreign-funded enterprises have a good overall evaluation.

Zhu Bing pointed out that, specifically, of the 59 measures in the "24 Foreign Investment Measures", 10 have been completed. For example, the Central Cyberspace Administration of China issued a document clearly regarding "effectively safeguarding the legitimate rights and interests of enterprises on the Internet" as online infringement information. In order to focus on the key tasks of reporting, an online reporting area has been opened and the reporting hotline of 12377 has been announced. The Ministry of Finance and the State Administration of Taxation issued an announcement extending the implementation period of the tax exemption policy for foreign individual subsidies and the tax refund policy for the purchase of domestic equipment by foreign-funded R&D institutions until the end of December 2027.

· 28 projects have made phased progress

Including policy documents that have been drafted and are in the process of being promulgated, relevant work has been carried out or work arrangements have been carried out in accordance with the requirements of policy initiatives, etc. For example: the Central Cyberspace Administration of China has formulated the "Regulations on Regulating and Promoting Cross-border Data Flows", which are being studied, improved, and prepared for promulgation. The Ministry of Finance is working hard to formulate standards for "produced in China" for government procurement products.

· 21 projects are being continuously promoted

Including some long-term and continuous work, such as: the State Intellectual Property Office guides and supports relevant localities to set up intellectual property service guarantee workstations during the exhibition, and do a good job in protecting intellectual property service guarantees such as patent priority review and acceptance, intellectual property maintenance, and comprehensive consultation.

Zhu Bing said that in the next step, the Ministry of Commerce will continue to promote various measures to accelerate the implementation and effectiveness, promptly report the progress of government procurement, standard setting, investment facilitation and other aspects that are generally concerned by foreign-invested enterprises, and further strengthen the implementation of the "24 Foreign Investment Articles" assessment of the situation.

Sihui City Investment Promotion Center

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