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China will maintain its commitment to high-level opening-up throughout the 15th Five-Year Plan for social and economic development, which extends until 2030. The goal is to enhance the country’s appeal to foreign investors and foster deeper engagement from international companies, according to the Vice Minister of Commerce.
Foreign investment restrictions in the manufacturing sector have been fully lifted, he announced at a press conference ahead of the upcoming 7th Qingdao Multinationals Summit. The summit will run from June 15 to June 17 and serves as a key platform for global firms to connect with the Chinese market.
Looking forward, the country plans to refine its negative list management system for cross-border trade in services and to gradually open more sectors, including telecommunications, internet, education, culture, and healthcare.
Pilot programs in areas such as value-added telecommunications, biotechnology, and wholly foreign-owned hospitals will be rolled out gradually. The government aims to support foreign companies in the services sector to advance along the value chain, ensuring they can enter and operate in sectors already open to foreign investment.
Furthermore, efforts will continue to expand pilot programs for opening up the services sector, alongside efforts to develop national demonstration zones focused on service trade innovation and digital trade. These initiatives will give foreign firms opportunities to benefit from China’s growing services industry.
The Vice Minister emphasized the country’s intent to attract more multinational corporations to establish research and development centers and advanced manufacturing facilities in China, fostering a more innovative foreign investment environment.
Despite global economic fluctuations, foreign investment remains resilient. Growth in sectors like artificial intelligence and clean energy is strong, although some traditional industries are experiencing a decline, which may pose risks to future growth prospects.
Against this backdrop, the latest Five-Year Plan emphasizes high-quality development, highlighting a clear commitment to continued opening-up. It underscores efforts to combine industrial and technological innovation, build a modern industrial system, expand domestic demand, and create a business environment conducive to world-class enterprises.
These initiatives aim to offer multinational companies a stable and predictable policy landscape and access to vast market opportunities.
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