ISSUING AUTHORITY:

General Office of the State Council

DATE OF ISSUANCE:

March 19, 2024

EFFECTIVE DATE:

March 19, 2024

On March 19, 2024, the Notification of the General Office of the State Council on the Issuance of Action Plan for Solidly Promoting High-Level Opening-up and Making Greater Efforts to Attract and Utilize Foreign Investment (the “Plan”) is released.

The Plan consists of 24 measures in five aspects. Specifically, the restrictions on foreign investment access to the manufacturing sector will be fully canceled. The opening-up of the telecommunications, medical care and other fields will be continuously promoted. In the free trade pilot zones in Beijing, Shanghai, Guangdong and other regions, certain eligible foreign-invested companies will be selected to carry out pilot projects to expand opening-up in areas such as development and application of gene diagnosis and therapy technologies. The opening-up of access of foreign financial institutions to banking and insurance sectors will be expanded. The qualified foreign financial institutions will be supported to participate in domestic bond underwriting in accordance with applicable regulations. The pilot scope of qualified foreign limited partners will be expanded. The data flow between the foreign-invested companies and their headquarters will be supported. More efforts will be made to align the pilot projects with international high-standard economic and trade rules.

Reference:

国务院办公厅关于印发《扎实推进高水平对外开放更大力度吸引和利用外资行动方案》的通知