The State Council has deployed new measures to stabilize foreign w88 and foreign investment. Experts say finance and automobiles will be further opened up
(Source: Southern Metropolis Daily Client "China Government Network" 2020-03-12)
Among the "six stabilizations" that need to be done to deal with the impact of the epidemic, stabilizing foreign w88 and stabilizing foreign investment occupy two of them. The State Council executive meeting on March 10 deployed a package of new measures specifically for these "two stabilizations."
The meeting pointed out that the negative list for foreign investment access will be further reduced and the catalog of industries that encourage foreign investment will be expanded.Experts say that this year, in terms of reducing the negative list, there will be further opening-up measures in both the financial and automotive industries.
Official data shows that my country’s import and export pressure was high in the first two months of this year due to the epidemic. Experts said that in recent years, the frequency of documents issued by the State Council to support the development of foreign investment has accelerated significantly. In the past few years, it was once once, but in the three years from 2017 to 2019, there were four times. It is reported that before the deployment of this State Council executive meeting, the Ministry of Commerce, the National Development and Reform Commission, the General Administration of Customs and other ministries and commissions have also intensively introduced a number of policies to encourage the development of foreign investment and foreign w88.
The cumulative w88 deficit appears for the first time in eight years due to high pressure on imports and exports
Affected by the epidemic, my country's foreign w88, especially exports, has been under great pressure since the beginning of the year.
A few days ago (7th), the General Administration of Customs just released the foreign w88 import and export data for the first two months of this year. Different from the previous practice of disclosing data on a monthly basis, this year for the first time, the import and export data of w88 in goods in January and February are released together at the same time as the relevant data released by the National Bureau of Statistics. The industry believes that this move is intended to eliminate fluctuations in import and export growth caused by the misalignment of the Spring Festival.
Under the impact of the epidemic, my country's import and export growth dropped sharply in the first two months of this year. According to data from the General Administration of Customs, in US dollar terms, China's export value fell by 17.2% year-on-year in January and February, and its import value fell by 4% year-on-year. The export growth rate was significantly lower than the import growth rate. From January to February, my country recorded a w88 deficit of US$7.09 billion, the first cumulative w88 deficit in eight years.
The General Administration of Customs officially explained the reasons for the decline in foreign w88 imports and exports, saying that it was mainly affected by factors such as the COVID-19 epidemic and the extension of the Spring Festival holiday. "Affected by the epidemic, the downward pressure on my country's foreign w88 import and export and the world economy has increased, making it more difficult to promote stable growth of foreign w88." Ni Yuefeng, director of the General Administration of Customs, said at the meeting.
Zong Changqing, director of the Foreign Investment Department of the Ministry of Commerce, also said frankly that the epidemic has aggravated the wait-and-see mentality of investors, which has put pressure on China's investment attraction work to stabilize and increase growth this year. The investment situation has become more complex and severe. It is expected that the impact of the epidemic on the absorption of foreign investment will be more obvious in February, March and even the first quarter.
Support commercial insurance companies to develop short-term export credit insurance business
In response to the impact of the epidemic, the State Council executive meeting on March 10 deployed six new measures to stabilize foreign w88 and foreign investment.
In terms of stabilizing foreign w88, all export products that have not received full tax refunds, except for "two highs and one capital" (high energy consumption, high pollution and resource-related), will be promptly and fully refunded; financial institutions will be guided to increase foreign w88 credit, and policies such as deferred loan principal and interest payments will be implemented. For small, medium and micro foreign w88 enterprises that have been greatly affected by the epidemic and have good prospects, they can negotiate for an extension.
The meeting made it clear that commercial insurance companies should be supported in developing short-term export credit insurance business and reducing rates. Cui Fan, a professor at the w88 casino, said that in the past, the main companies that carried out short-term export credit insurance business were China Export Credit Insurance Corporation, which is a policy insurance company. Since 2013, a small number of commercial insurance companies have been approved for this business. This time, commercial insurance companies are encouraged to carry out this business, which reflects greater efforts to promote foreign w88.
The meeting also pointed out that preparations for the Spring Canton Fair should be made and foreign w88 cooperation should be vigorously promoted. It is reported that the Canton Fair (China Import and Export Fair) is held in Guangzhou every spring and autumn. It is an important international w88 conference hosted by our country and is known as "China's No. 1 Exhibition." Cui Fan said that due to the impact of the epidemic, the international community may have doubts about the normal holding of the Canton Fair this spring. The signal released by this State Council executive meeting will enhance the confidence of domestic enterprises and the international community. At the same time, I believe that relevant departments will also take measures to prevent and control imported cases.
In terms of stabilizing foreign investment, the meeting called for further reducing the negative list for foreign investment access, expanding the catalog of industries that encourage foreign investment, so that foreign investment in more fields can enjoy tax and other related preferential policies; for the recently introduced tax cuts and fee reductions and other corporate relief policies, it is necessary to ensure that domestic and foreign-funded enterprises enjoy equally.
Cui Fan said that reducing the negative list for foreign investment access is a "normal action" in recent years, and the further reduction this time is a continuation of the policy. This year, in terms of reducing the negative list, both the financial and automotive industries will take further opening-up measures.
It is reported that on January 19, National Development and Reform Commission spokesperson Meng Wei said that in 2020, it will continue to promote the revision of the negative list, and will continue to follow the principle of "only make subtractions, not additions" to further expand foreign investment market access and increase the pilot opening of free w88 pilot zones.
On March 11, the National Development and Reform Commission issued the "Notice on Further Deepening Reforms and Doing Relevant Work on Foreign Investment Projects in Response to the Epidemic", stating that it will work with the Ministry of Commerce and other departments to revise the "Catalogue of Industries to Encourage Foreign Investment" in the near future. It plans to further expand the scope of encouragement, promote both growth and stabilization, focus on promoting high-quality development of the manufacturing industry, and unleash the potential of the central and western regions and northeastern regions to undertake industrial transfers.
Many ministries and commissions have intensively introduced support policies to stabilize foreign w88 and foreign investment
Cui Fan said that in recent years, the State Council has intensively issued relevant documents to support the development of foreign investment, such as Guofa [2017] No. 5, Guofa [2017] No. 39, Guofa [2018] No. 19, and Guofa [2019] No. 23. “In the past, it was only introduced once every few years, but four were introduced in the three years from 2017 to 2019.”
It is reported that before the executive meeting of the State Council deployed a package of policies, the Ministry of Commerce, the National Development and Reform Commission and other ministries and commissions have recently introduced a series of support policies to stabilize foreign w88 and foreign investment.
On February 18, the Ministry of Commerce issued the "Notice on Stabilizing Foreign w88, Stabilizing Foreign Investment and Promoting Consumption in Response to the COVID-19 Epidemic", proposing to coordinate the resumption of work review departments to speed up the procedures, support the orderly resumption of work and production of foreign w88, foreign investment, commercial circulation and e-commerce enterprises, and steadily and orderly promote the joint construction of major projects of the "Belt and Road".
On February 25, the General Administration of Customs held a video and telephone conference to coordinate the prevention and control of the new coronavirus epidemic and promote the steady growth of foreign w88. The meeting called for further simplifying customs clearance procedures, reducing port, inspection and quarantine fees, in-depth implementation of special actions to facilitate cross-border w88, optimizing the port business environment, and promoting cross-border w88 facilitation.
On March 9, the National Development and Reform Commission issued the "Notice on Further Deepening Reforms and Doing Relevant Work on Foreign-Invested Projects in Response to the Epidemic", requiring active assistance in resuming work and production for foreign-invested projects and foreign-invested enterprises, strengthening the tracking and reserve of major foreign-invested projects, improving the convenience of filing foreign-invested projects, simplifying the approval procedures for foreign-invested projects, and optimizing the tax exemption confirmation process for imported equipment for encouraged foreign-invested projects.
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http://www.gov.cn/xinwen/2020-03/12/content_5490500.htm?gs_ws=weixin_637198200549897452&from=singlemessage&isappinstalled=0
