China Will Continue to Improve Legal System of Business Environment and Introduce a Stronger Policy to Attract More Foreign Investment

On June 14, 2023, State Council held the policy briefing, at which Yuan Da, deputy secretary-general of National Development and Reform Commission (“NDRC”), briefed on the progress made in deepening the reform in key areas of business environment and answered reporters’ questions. The relevant leaders of General Administration of Customs, State Taxation Administration, General Administration of Municipal Supervision also attended the policy briefing and answered reporters’ questions.

Focusing on the outstanding issues reflected by enterprises, NDRC will accelerate the introduction of targeted policy measures in batches to deepen reforms in key areas of business environment, with a focus on deepening market-oriented reforms, fully safeguarding fair competition, strengthening the rule of law to support and enhance the level of internationalization, and NDRC will formulate Regulations on Fair Competition Review and Rules for Fair Competition Review in Bidding, tender to abolish the policies and measures that hinder construction of unified national market and fair competition, and launch special campaign to rectify key issues in bidding, said by Yuan Da. In promoting construction of a higher level of open economy new system, State Council will study and introduce policies and measures to attract foreign investment with greater vigor, reasonably reduce the negative list of foreign investment access, and further improve the promotion of foreign investment and services.