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2018 set to bring more opening

By  : INDICS Operator Updated  :   2018-01-05 09:22:03

2018 marks the 40th anniversary of China's reform and opening-up policy, and the year will see more specific measures to promote the new pattern of all-round opening-up, experts said.

"It is clear that industries such as high-end manufacturing and modern services are the sectors where the opening-up is directed, and the services industry will be a key area," Huo Jianguo, senior CCG research fellow and former director of the Chinese Academy of International Trade and Economic Cooperation under the Ministry of Commerce (MOFCOM), told the Global Times on Tuesday.

The central government strengthened efforts to expand the investment scope for foreign capital in 2017, said Tang of MOFCOM.

For example, in a revised industrial guidance catalogue for foreign investment released in June, China cut 30 restrictions, he noted.

Chen said that the negative list is certain to become shorter as the country opens wider to investment from abroad.

Addressing the Fortune Global Forum held in Guangzhou, capital of South China's Guangdong Province in December 2017, Chinese Vice Premier Wang Yang said China was working on a timetable to further open up key industries, including financial services and electric cars.

He also noted that qualified foreign companies registered in China will receive equal treatment in government procurement, setting of standards and projects related to "Made in China 2025," the government's blueprint to upgrade the manufacturing sector.

"The timetable is vital for maintaining a good business environment. Besides, with the tone set clearly, workable specifics now need to be rolled out," Huo said, noting the plans for the high-end manufacturing sector should be further clarified.

Also, opening-up in such services segments as e-commerce, construction design, education and accounting should to be accelerated, as this has already been promised, Huo said.

Related departments are currently working hard on the specifics while implementation is expected to come in the first half of 2018, Huo forecast.

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