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China to boost efforts in attracting foreign investment

Source:Xinhua 2024-01-02

This aerial panoramic photo taken on Jan. 10, 2023 shows a view of Lujiazui area in the China (Shanghai) Pilot Free Trade Zone in east China's Shanghai. (Xinhua/Fang Zhe)

BEIJING, Dec. 28 (Xinhua) -- China will roll out a package of measures in 2024 to boost efforts in soliciting foreign investment, an official from the country's top economic planner has said.

China will work to solve existing problems that foreign businesses face in investing in the country, said Zheng Chiping, head of the National Development and Reform Commission's department of foreign investment utilization and outbound investment.

China will lift all the restrictions on foreign investment in the manufacturing sector and continue to open up the service sector, Zheng told Xinhua in an interview.

Official data shows that foreign direct investment in the Chinese mainland in actual use stood at 1.04 trillion yuan (about 146.53 billion U.S. dollars) in the first 11 months of the year, remaining at a historically high level against the backdrop of sluggish cross-border investment globally. 

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