A new action plan to attract foreign investment was released on June 22, which includes measures to stabilize and optimize foreign direct investment (FDI) while attracting new investors.
The document has five priorities, including expanding market access, facilitating foreign investment procedures, upgrading investment promotion, improving service for foreign investors and optimizing the administration of foreign investment. Key highlights include increasing opening-up in the education, healthcare, finance and biotechnology sectors, optimizing rules for cross-border data flow and tax incentives for foreign investors to reinvest profits, as well as incentives for acquiring domestic enterprises, attracting foreign investors to set up R&D centers in China and equally implementing national treatment for all foreign enterprises in government procurement.
The document is expected to scale up the "Invest in China" brand by pledging consistent, predictable opening-up policies and promoting mutually beneficial global cooperation.
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