(Cui Fan) Roundtable丨The negative list has been "slimmed down" again, stabilizing w88 live casino and revitalizing the economy
(Source: "China Economic Times" 2020-06-30)
(Photo source/Xinhua News Agency)
Stabilizing foreign w88 and investment and implementing greater reform and opening up are key measures. On June 28, Premier Li Keqiang of the State Council chaired a symposium on stabilizing foreign w88 and emphasized that we must unswervingly introduce more measures to expand opening up and make China a hot spot for more foreign investment and business. Correspondingly, the National Development and Reform Commission and the Ministry of Commerce recently issued the "Special Management Measures for Foreign Investment Access (Negative List) (2020 Edition)" and the "Special Management Measures for Foreign Investment Access in Pilot Free w88 Zones (Negative List) (2020 Edition)" respectively. China's continued reduction of the negative list for foreign investment access will not only strengthen foreign investors' confidence in China's wider opening up, but also help China stimulate new development vitality through opening up.
The negative list is getting shorter and shorter. China’s road to opening up is getting wider and wider
China Economic Times: Recently, the 2020 version of the negative list for foreign investment access nationwide and in the free w88 pilot zones was announced. Compared with the 2019 version, both negative lists have been reduced by 7 items. This is the fourth consecutive year that my country has revised the negative list for foreign investment access nationwide and in pilot free w88 zones. Currently, the global spread of the epidemic has had a new negative impact on my country's attraction of foreign investment and the resumption of work and production of foreign-invested enterprises. What role will China's further reduction of the negative list for foreign investment access play in stabilizing and attracting foreign investment?
Zhang Jianping: Since the reform and opening up, the degree and level of my country's utilization of w88 live casino have achieved rapid development. As global economic growth continues to slow down, China's w88 live casino growth bucked the trend in 2019, achieving a growth of 5.8%, firmly ranking second in the world. Market entities have increased significantly, and the structure and quality of w88 live casino utilization have gradually been optimized. This is largely due to China's series of measures to expand opening up to the outside world and lower the entry threshold for w88 live casino.
The 2020 COVID-19 epidemic will have a huge impact on the global economy, especially in the field of cross-border investment. The "2020 World Investment Report" released by the United Nations Conference on w88 and Development shows that global FDI is expected to decrease by 40% in 2020 compared with last year. China's utilization of foreign capital has declined slightly this year. The actual amount of foreign capital utilized from January to May was 355.18 billion yuan (excluding banking, securities, and insurance sectors), a year-on-year decrease of 3.8%. Under the current complex and severe economic situation, in order to increase efforts to attract and stabilize foreign investment, and in the context of the formal implementation of the Foreign Investment Law and its implementation regulations, China has once again revised the negative list for foreign investment access. Under the principle of only reducing but not increasing, the national negative list has been increased from 4 in 2019. The number of items in the free w88 pilot zone was reduced from 0 to 33, and the negative list of the pilot free w88 zone was reduced from 37 to 30. The control measures were mainly changed in the fields of agriculture, manufacturing and finance, as well as transportation, urban infrastructure and health care, and the openness level of the service industry, manufacturing and agriculture was improved. As an important way to expand opening-up, the negative list is getting shorter and shorter, which means that China is opening up comprehensively on a larger scale, in wider fields and at a deeper level.
Reducing the negative list and expanding market access for w88 live casino will promote the improvement of the w88 live casino environment, directly enhance w88 live casino’s confidence in China, attract more high-quality w88 live casino into China, and promote the development of new technologies, new industries, new business formats and new models in China. It will also help accelerate the recovery of China's economy under the epidemic, inject vitality into the upstream and downstream enterprises in the industrial chain, promote the resumption of work and production in all walks of life around the world, and help the world fight the epidemic together.
Lowering the entry threshold for foreign investment can not only stabilize foreign investment, but also indirectly achieve the goal of stabilizing foreign w88. As of the end of 2019, China has established more than 1 million foreign-invested enterprises, of which 84,000 foreign-invested enterprises carry out import and export business, accounting for 16.8% of the total number of Chinese foreign w88 enterprises, and the corresponding import and export volume accounts for 39.9% of the country's total. They are an important part of China's foreign w88. Reducing the negative list can expand the introduction of foreign investment and stabilize and enhance the contribution of foreign-invested enterprises to China's foreign w88 development.
Zhang Yansheng: The COVID-19 epidemic has caused the global investment environment to further deteriorate, and is expected to cause global w88 live casino to fall by 30%-40% this year. In this international economic context, the relevant departments have announced the 2020 version of the negative list for w88 live casino access, which is of special significance. This is the first step in the reform and opening up in the new era. It will further improve the w88 live casino environment and build a new higher-level open economic system. It is an important measure to implement a wider scope, wider field, and deeper comprehensive opening up. This is of great significance to stabilizing, attracting and expanding the scale, level and grade of w88 live casino in China in the future.
Cui Fan: I believe that the reduction of the negative list for w88 live casino access is mainly reflected in the cancellation or relaxation of equity restrictions, which expands the options of foreign investors and is conducive to their investment in China.
Liu Xuezhi: Further reducing the negative list for foreign investment access will play an important role in stabilizing the basics of foreign w88, actively utilizing foreign investment, and promoting high-quality development.
First, as global investment opportunities shrink, my country's further expansion of opening up and reduction of the negative list will create more investment opportunities for global investors. Such an approach will not only help my country attract more high-quality w88 live casino, but also make an important contribution to global economic recovery.
Second, my country continues to lower restrictions on foreign business access, demonstrating its unswerving determination to support economic globalization and cross-border investment, and will establish a positive image in the world. On the one hand, the reduction of the negative list and the relaxation and elimination of foreign shareholding restrictions will stabilize and expand the existing stock of foreign capital; on the other hand, continued optimization of the business environment and improvement of comprehensive business competitiveness will attract global multinational companies and high-quality foreign capital to invest in China, bringing new increases in w88 live casino.
Third, with the continuous development and improvement of the domestic market and the continuous improvement of industrial supporting facilities, w88 live casino is changing, with more shifts from the secondary industry to the tertiary industry, and from labor-intensive manufacturing to high-tech manufacturing. Relaxing w88 live casino access restrictions, especially focusing on the opening up of the service industry and high-tech manufacturing, will promote China's economic transformation, upgrading and high-quality development.
Expanding opening up in many fields to stimulate competitive vitality in the industry
China Economic Times: With the reduction and optimization of the negative list, which industries and fields in my country will be brought about profound changes?
Zhang Jianping: Although my country's foreign capital utilization declined slightly in the first five months of this year, the actual use of foreign capital in high-tech industries increased by 2% year-on-year. Information services, e-commerce services, and R&D and design services increased by 42.3%, 67.9%, and 49.8% respectively. The growth rate is very obvious. China's high-tech industries have gained opportunities to accelerate development by leveraging the expansion of w88 live casino market access.
Judging from the specific industries involved in the reduction of the 2020 version of the negative list, the financial industry has taken a new step in opening up to the outside world, allowing securities companies, securities investment fund management companies, futures companies, and life insurance companies to implement wholly foreign-owned operations. The biggest highlight of the revision of the negative list will significantly expand the attractiveness of China's financial industry to w88 live casino, promote the emergence of more foreign-owned or wholly-owned financial companies, enhance market competition in the domestic financial industry, optimize the investment environment, and improve the internationalization of China's financial companies and markets.
In addition, the Chinese shareholding requirement for commercial vehicles has been further eliminated, and the degree of openness of the commercial vehicle manufacturing field will be significantly improved. This will drive many global automobile companies to increase investment in China and prepare for the removal of shareholding restrictions on passenger vehicles in the future. The gradual lifting of shareholding restrictions in the field of automobile manufacturing will, on the one hand, promote foreign-funded enterprises to enter the Chinese market more freely and promote a richer range of products in the Chinese automobile market; on the other hand, it will also increase the intensity of market competition, forcing Chinese enterprises to increase investment in product research and development and brand building, master key technologies, strengthen core industrial chains, and achieve the goal of becoming a powerful automobile nation.
Allowing wholly foreign-owned enterprises to establish academic vocational education institutions can not only introduce w88 live casino and help solve the problem of lack of funds for vocational education in my country, but also introduce advanced foreign vocational education concepts, models and experiences to promote the professional and international development of China's vocational education, which is conducive to the cultivation of China's technical talents and is consistent with the implementation of the strategy of rejuvenating the country through science and education and the strategy of strengthening the country through talent.
Zhang Yansheng: First, only reducing but not increasing the negative list items means there will be more beneficiaries. Second, the opening up of key areas of the service industry has become a new highlight. Currently, my country's actual use of foreign investment has shifted from 70% in manufacturing to 70% in services. For example, the elimination of shareholding ratio restrictions and Chinese shareholding requirements in finance, infrastructure and other fields will boost the growth of foreign investment in the service industry. The third is to relax access to manufacturing and agriculture. Focus on entering high-growth, high-tech, and new economic fields. Fourth, the pilot free w88 zones will continue to be piloted. For example, medicine, education, etc. took the lead in exploring opening-up measures. Fifth, it emphasizes the implementation of the negative list in accordance with the Foreign Investment Law, and equal treatment for domestic and foreign investors outside the negative list.
Cui Fan: This year’s reduction and optimization of the negative list involves finance, automobiles, infrastructure construction, wheat breeding and other fields. The free w88 pilot zone also involves education, traditional Chinese medicine and other fields. The wider opening up of these fields will have far-reaching impacts and can further stimulate competition in the industry, allowing consumers to obtain better products and better services.
Liu Xuezhi: The 2020 version of the negative list for w88 live casino access has been further reduced, focusing on improving the opening level of manufacturing, service industries, and agriculture, which will bring profound changes and development opportunities in related fields.
First, in the manufacturing sector, it was emphasized that restrictions on foreign equity ratios in commercial vehicle manufacturing should be relaxed, and regulations prohibiting w88 live casino in the smelting and processing of radioactive minerals and nuclear fuel production should be lifted. Closely related to ordinary residents is the opening up of the automobile sector. As restrictions on foreign shareholding ratios in commercial vehicle manufacturing are further relaxed, it is expected to attract top automakers to increase investment in China.
The second is the service industry, which mainly includes relaxing access restrictions in finance and infrastructure construction. In recent years, the pace of opening up of my country's financial industry has accelerated significantly. More and more foreign financial companies have invested in China, which will promote the improvement of domestic financial services, enrich various types of financial products, reduce the financing costs of the real economy, and help solve the problem of difficult and expensive financing. At the same time, at present, my country's economic development is still uneven and inadequate, and there is still a lot of room for infrastructure investment. The introduction of w88 live casino will promote the further improvement of urban infrastructure, especially the improvement of water supply and drainage facilities mentioned this time.
The third is the agricultural field. The selection and breeding of new wheat varieties and seed production must be relaxed by the Chinese party to a Chinese shareholding ratio of not less than 34%. Our country is a large agricultural country, but it is not yet an agricultural power. It is still relatively weak in some key agricultural technical links, including seed selection and breeding. The opening of relevant fields to the outside world will enhance our country's agricultural planting technology and promote the improvement of agricultural science and technology levels.
Implement the negative list to let foreign investors feel the improvement of the investment environment
China Economic Times: In what aspects should we focus on implementing the 2020 version of the negative list for w88 live casino access?
Zhang Jianping: China is becoming more and more open to foreign investment. The 18 free w88 pilot zones have continuously introduced various measures to provide a better platform for foreign investment. While implementing the new version of the negative list, we must also continue to expand Large-scale foreign investment access is implemented on a pilot basis; under the guidance of the Foreign Investment Law and supporting regulations, the country promotes, protects and manages foreign investment, lowers the entry threshold for foreign investment in accordance with the negative list, creates a better business environment, and achieves a higher level of wider opening up.
From a government perspective, the National Development and Reform Commission, the Ministry of Commerce and other ministries and commissions, as well as local governments, need to implement the negative list for foreign investment access, ensure the timely implementation of supporting measures, optimize the consistency of various policies and measures, and avoid the formation of "air policies." Relevant government departments and government agencies at all levels must first carefully study and grasp the characteristics and open content of the new negative list, actively promote the opening-up work, and use traditional media channels and new media to conduct publicity and interpretation to facilitate relevant enterprises and foreign businessmen to understand the policy in a timely and in-depth manner. The second is to promote implementation. Areas outside the negative list shall be managed in accordance with the principle of consistency between domestic and foreign investment, actively guide and encourage foreign investment to enter high-tech manufacturing and high-tech service industries, and keep abreast of the implementation of the policy, coordinate and resolve relevant issues, and ensure the effective implementation of the policy. The third is to strengthen the construction of local legal systems, improve the level of legalization of foreign investment work, and allow foreign investors to have greater investment confidence in the Chinese market. The fourth is to speed up the replication and promotion of the experience of the free w88 pilot zone, and implement the new version of the negative list for foreign investment access locally in a tested and innovative way to improve the implementation level and execution effect.
Zhang Yansheng: First, implement the spirit of the Fourth Plenary Session of the 19th CPC Central Committee and govern the country according to law. We must implement the w88 live casino Law and implement the negative list so that foreign investors can benefit from the improvement of the investment environment. The second is to promote the modernization of the national governance system and governance capabilities. The whole country will work together to implement the negative list. The third is to adapt to new situations, new situations and new requirements, and promote new measures to improve the investment environment in the new era.
Cui Fan: On the one hand, enterprise registration departments, industry authorities, and investment authorities need to promptly adjust departmental regulations and normative documents that have not yet been adjusted to implement the new negative list. On the other hand, in the face of further opening up, all departments need to implement the requirements of fair and equal supervision in the post-entry supervision process in accordance with the requirements of the w88 live casino Law, to avoid the situation of denying access and operating, and at the same time pay close attention to possible new situations, so as to achieve liberalization, control and adequate services.
Liu Xuezhi: How to implement the negative list well requires full consideration of the current environmental conditions. Government departments at all levels also need to strengthen communication and cooperation, and all specific implementation measures must be grounded.
At present, the impact of the epidemic on the global economy is still fermenting. my country is promoting the resumption of work and production on the premise of coordinating epidemic prevention and control, and needs to provide a more open investment environment for w88 live casino. Reducing the negative list is a practical and effective concrete measure, and it must be grounded in specific operations. In other words, relevant departments need to investigate and study the problems reported by enterprises, and take measures to support enterprises to tide over difficulties while relaxing access. In particular, we must increase support to retain foreign-invested small and medium-sized enterprises and labor-intensive enterprises, which is the key to supporting employment stability. In addition, it is necessary to promote multi-field and multi-level international cooperation, implement negative list terms in cooperation, and explore areas and spaces for further liberalization.
In areas outside the negative list, governments at all levels are not allowed to set access restrictions specifically targeting w88 live casino, and they are not allowed to overstep their authority and intervene excessively. During the specific implementation process, government departments at all levels must strictly implement the negative list for w88 live casino access in strict accordance with the requirements of the w88 live casino Law and its implementation regulations. All relevant departments must promptly learn and understand the content and essence of relevant regulations to ensure that new opening-up measures are implemented in a timely manner. All departments should strengthen communication and cooperation, improve the consistency of various policies, and improve the efficiency of administrative services.
Promote a higher level of opening up and promote domestic and international dual circulation
China Economic Times: Do you have any other suggestions for stabilizing the fundamentals of w88 live casino, stabilizing the global industrial and supply chains, and promoting the formation of a new development pattern in which domestic and international dual cycles promote each other?
Zhang Jianping: The key is to promote a higher level of opening up, open up the domestic market and the international market, promote the balanced development of imports and exports, optimize the structure of w88 live casino and utilization of foreign capital, and smooth the international supply and demand cycle, so as to achieve a new development pattern in which domestic and international dual cycles promote each other.
w88 live casino is the link and driving force that connects and promotes the domestic and international dual cycles. Therefore, the first priority is to take more effective measures to stabilize w88 live casino throughout the year, including optimizing the w88 live casino environment and promoting a higher level of opening up. Promoting the effective implementation of the w88 live casino Law and the new negative list for w88 live casino access from the central to local governments will significantly optimize the w88 live casino environment, enhance China's ability to promote, protect, and manage w88 live casino, and help stabilize the fundamentals of w88 live casino.
The free w88 pilot zone is a new highland and new platform for reform and opening up. It has made positive progress in opening up high value-added fields, piloting, streamlining administration and delegating powers. Next, giving full play to the role of the free w88 pilot zone as a test field for reform and opening up, launching more innovative opening-up measures in finance, customs supervision, etc., promoting the construction of Hainan Free w88 Port, and enhancing China's attractiveness to high-quality foreign investment will help create a new growth pole, innovation pole, and radiation pole for China's independent opening to the world, and promote a higher level of opening up to the outside world.
In addition, it is necessary to use all links of the domestic industrial chain to coordinate the resumption of work and production and the smooth operation of the foreign w88 industrial chain and supply chain to drive the smooth operation of the global industrial chain and supply chain. National economic and technological development zones are important open platforms and industrial clusters in my country. The utilization of foreign investment and industrial added value account for about one-fifth of the country's total, and they play an important supporting role in stabilizing the industrial and supply chains. Economic and Technological Development Zones should actively release local development vitality and motivation, strengthen international supply chain cooperation while stabilizing foreign investment and domestic industrial and supply chains, and accelerate the recovery of international industrial and supply chains through the smooth operation of domestic industrial and supply chains.
We should also continue to promote the two-pronged approach of internal reform and external opening, continue to deepen the reform of streamlining administration and delegating power, combining delegation and regulation, and optimizing services, comprehensively optimize the business environment, promote the legalization, transparency, and internationalization of the domestic business environment, and treat domestic capital equally. Various market entities such as enterprises and foreign-invested enterprises shall ensure fair competition between domestic and foreign-invested enterprises, and at the same time establish a supporting w88 live casino security review mechanism to ensure industrial safety during the opening-up process and provide a stable base for high-quality development for the new development pattern of domestic and international dual-circulation mutual promotion.
Zhang Yansheng: First, based on domestic demand, seize the huge opportunity to build a complete domestic demand system. The second is to do a good job with internal circulation as the main body, do a good job in market-driven w88 live casino, efficiency-driven w88 live casino, and resource-driven w88 live casino, and implement comprehensive and precise policies. The third is to innovate systems and mechanisms to improve and optimize the business environment. The new era requires transcending the experience and models of the past 40 years, starting from scratch, and exploring new models that will adapt to the next 30 years.
Cui Fan: Activating the domestic circulation is not to replace the international circulation, but to help our country better attract w88 live casino and better participate in the international circulation. After the epidemic, some places in the central and western regions have experienced population return. Solving the living and employment problems of this part of the returning labor force will be conducive to activating the local economy and will also help to undertake the labor-intensive industries that have moved in from coastal areas. Under the current circumstances, the eastern region should take advantage of the trend, vacate the cage and change the bird, accelerate industrial upgrading and transformation, encourage more industries with higher added value, and improve the quality of utilizing w88 live casino.
Liu Xuezhi: Stabilizing w88 live casino and stabilizing the industrial chain is a comprehensive task, which requires not only promoting opening up and reform and development, but also the support of a "combination of policies" and the transformation of government functions.
First of all, we must unswervingly expand opening up to the outside world and stabilize the industrial and supply chains with greater openness. Historical experience has proven that only by further promoting opening up can a higher level of development be achieved. In the future, we will open the door wider and implement comprehensive opening up on a larger scale, in a wider field, and at a deeper level.
Secondly, use opening up to promote reform and development, and promote the in-depth construction of a market-oriented economy. Our country must build a new higher-level open economic system and fully integrate with the international high-standard market rules system. Opening up to the outside world must cooperate and promote internal reform, and promote the reform of systems and mechanisms in accordance with the requirements of opening up. Only in this way can domestic systems and rules be integrated with international standards.
Once again, a series of policy "combinations" have been introduced to strengthen fiscal and financial support and promote the stability of foreign investment and foreign w88. Policies focus on expanding financing support, reducing financing costs, strengthening targeted fiscal and taxation support, and promoting comprehensive service facilitation. In particular, the global industrial and supply chains should promote the resumption of work and production of closely related upstream and downstream enterprises and increase investment to ensure that employment is not reduced.
Finally, promote the transformation of government functions and enhance comprehensive administrative service capabilities. Reducing the negative list for w88 live casino does not mean that the government is liberalizing and not managing. In fact, it is quite the opposite. It requires the government to improve its comprehensive management and service capabilities. Now that the negative list is implemented and its scope is getting smaller and smaller, the relaxation and cancellation of each item will place high demands on the management department. On the one hand, it is necessary to prevent and control risks, promote market supervision departments to improve their effective supervision capabilities, and not interfere with the market while strengthening supervision; on the other hand, the role of the government is gradually changing from administrative management functions to comprehensive service functions, from mainly using administrative means to mainly using economic means, and requires a combination of economic means and legal means.
(Cui Fan is a professor at the w88 casino of International Economics and w88, w88 casino)
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