The two sessions resolve to further opening up

广州寰东投资咨询有限责任公司

2021-03-08

导读：According to the draft outline of the 14th Five-Year Plan, we must unswervingly open up wider to the

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GEI focuses on the establishment of wholly foreign-owned and Sino-foreign joint venture companies, financial and tax planning, foreign residence permits and overseas company establishment.

China's pragmatic opening-up measures released in the draft 14th Five-Year Plan (2021-25) have fully demonstrated the country's resolve to further integrate with and contribute to the world economy, officials and experts said on Friday.

In the draft Outline for the 14th Five-Year Plan for Economic and Social Development and Long-Range Objectives Through the Year 2035, China has vowed to unswervingly open its economy wider, further promote the free flow of production factors and expand institutional opening-up in the coming five years.

The country must leverage its domestic market to create strong gravitation for global factors and resources in the coming five years, as part of efforts to build the new dual-circulation development paradigm, in which the domestic market is the mainstay while the domestic and international markets support each other.

Premier Li Keqiang outlined specific opening-up measures for this year, the start of the 14th Five-Year Plan period, including further reducing the negative list for foreign investment, opening the service sector in a well-regulated way, formulating a negative list for cross-border trade in services and advancing the development of the Hainan Free Trade Port.

As China implements the dual-circulation paradigm and steps up efforts to expand its domestic market, which already has more than 400 million middle-income residents, progress in opening-up has provided global businesses with huge investment opportunities.

The country will promote the steady growth of imports and exports this year, increase credit support to small and medium-sized foreign trade firms and encourage the development of new trade forms such as cross-border e-commerce.

China will also work to make the Regional Comprehensive Economic Partnership agreement come into force as soon as possible, facilitate the signing of its investment deal with the European Union, and accelerate its free trade negotiations with Japan and South Korea.

This would result from more bilateral investment as China's stronger domestic market attracts increased foreign investment, while Chinese companies continue to explore overseas investment opportunities.

Source:China daily

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