Circular of the State Council on Several Measures concerning the Expansion of Opening-up and the Active Use of Foreign Capital
Circular of the State Council on Several Measures concerning the Expansion of Opening-up and the Active Use of Foreign Capital
Circular of the State Council on Several Measures concerning the Expansion of Opening-up and the Active Use of Foreign Capital
Guo Fa [2017] No.5
January 12, 2017
People's governments of all provinces, autonomous regions and municipalities directly under the Central Government, and all ministries and commissions under and all institutions directly under the State Council,
Use of foreign capital, as an important part of the basic national policy on opening-up and the open economic regime of China, plays a positive role in the process of economic development and deepened reform. At present, the use of foreign capital faces new trends and new tasks, as global transnational investment and industry transfer has shown new trends, and China's economy has been deeply integrated into the world economy, and economic development has entered a new normal. In order to thoroughly implement the Several Opinions of the Central Committee of the Communist Party of China and the State Council on Building a New Open Economic System, further actively use foreign capital, create a favorable business environment, continue to deepen the reform of streamlining government functions and administration and delegating powers while improving regulation, and optimizing services, and reduce institutional trading costs, so as to achieve mutual benefits and a win-win situation, the relevant matters are hereby notified as follows:
I. Further Expand Opening-up
1. The concept of open development should be taken as guidance to promote a new round of high-level opening-up. The Catalog for the Guidance of Foreign Investment Industries and the relevant policies and regulations should be revised in order to ease access restrictions on foreign capital in fields such as services, manufacturing, and mining sectors. Foreign capital is supported to participate in the implementation of the innovation-driven development strategy, the transformation and upgrading of manufacturing, and overseas talents' development in China through entrepreneurship (led by the National Development and Reform Commission and the Ministry of Commerce).
2. When easing access restrictions on foreign capital in the service sector, we should give priority to banking financial institutions, securities companies, securities investment fund management companies, futures companies, insurance institutions, and insurance intermediaries. Access restrictions on foreign capital should be lifted in accounting and auditing, architectural design, rating services, and other fields. And orderly opening-up in telecommunications, the internet, culture, education, transportation, and other fields will be promoted (led by the National Development and Reform Commission and the Ministry of Commerce, and responsible as per the division of duties by the Ministry of Education, the Ministry of Industry and Information Technology, the Ministry of Finance, the Ministry of Human Resources and Social Security, the Ministry of Housing and Urban-rural Development, the Ministry of Transport, the Ministry of Culture, the People's Bank of China, the State Administration of Press, Publication, Radio, Film and Television, the Cyberspace Administration of China, the China Banking Regulatory Commission, the China Securities Regulatory Commission, and the China Insurance Regulatory Commission).
3. In manufacturing, access restrictions on foreign capital will be canceled mainly in the manufacturing of rail transportation equipment, motorcycle manufacturing, fuel ethanol production, oil processing, and other fields.
......
Guo Fa [2017] No.5
January 12, 2017
People's governments of all provinces, autonomous regions and municipalities directly under the Central Government, and all ministries and commissions under and all institutions directly under the State Council,
Use of foreign capital, as an important part of the basic national policy on opening-up and the open economic regime of China, plays a positive role in the process of economic development and deepened reform. At present, the use of foreign capital faces new trends and new tasks, as global transnational investment and industry transfer has shown new trends, and China's economy has been deeply integrated into the world economy, and economic development has entered a new normal. In order to thoroughly implement the Several Opinions of the Central Committee of the Communist Party of China and the State Council on Building a New Open Economic System, further actively use foreign capital, create a favorable business environment, continue to deepen the reform of streamlining government functions and administration and delegating powers while improving regulation, and optimizing services, and reduce institutional trading costs, so as to achieve mutual benefits and a win-win situation, the relevant matters are hereby notified as follows:
I. Further Expand Opening-up
1. The concept of open development should be taken as guidance to promote a new round of high-level opening-up. The Catalog for the Guidance of Foreign Investment Industries and the relevant policies and regulations should be revised in order to ease access restrictions on foreign capital in fields such as services, manufacturing, and mining sectors. Foreign capital is supported to participate in the implementation of the innovation-driven development strategy, the transformation and upgrading of manufacturing, and overseas talents' development in China through entrepreneurship (led by the National Development and Reform Commission and the Ministry of Commerce).
2. When easing access restrictions on foreign capital in the service sector, we should give priority to banking financial institutions, securities companies, securities investment fund management companies, futures companies, insurance institutions, and insurance intermediaries. Access restrictions on foreign capital should be lifted in accounting and auditing, architectural design, rating services, and other fields. And orderly opening-up in telecommunications, the internet, culture, education, transportation, and other fields will be promoted (led by the National Development and Reform Commission and the Ministry of Commerce, and responsible as per the division of duties by the Ministry of Education, the Ministry of Industry and Information Technology, the Ministry of Finance, the Ministry of Human Resources and Social Security, the Ministry of Housing and Urban-rural Development, the Ministry of Transport, the Ministry of Culture, the People's Bank of China, the State Administration of Press, Publication, Radio, Film and Television, the Cyberspace Administration of China, the China Banking Regulatory Commission, the China Securities Regulatory Commission, and the China Insurance Regulatory Commission).
3. In manufacturing, access restrictions on foreign capital will be canceled mainly in the manufacturing of rail transportation equipment, motorcycle manufacturing, fuel ethanol production, oil processing, and other fields.
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