State Council Holds Executive Meeting Studying Measures for Further Attraction and Utilization of Foreign Investment

On February 23, 2024, Chinese Premier Li Qiang chaired a State Council executive meeting which heard a report on the handling of suggestions from deputies to the National People’s Congress and proposals from members of the National Committee of the Chinese People’s Political Consultative Conference last year, and studied measures to make greater efforts to attract and utilize foreign investment.

The meeting noted that stabilizing foreign investment should be a focus of this year’s economic work, and efforts must be made to widen market access, level the playing field further, and smooth the flow of innovation factors. It calls for continuously creating a market-oriented, law-based and international world-class business environment, stressing the need to shore up foreign investor confidence in developing businesses in China, and boost the quality and level of trade and investment cooperation.

The meeting approved the Guidelines on Further Improving Payment Services, stressing that efforts should be made to promote the use of mobile payment, bank card payment, cash payment and other payment methods to make payments easier for elderly and foreign nationals in China.

The Meeting also adopted the Regulations on Water Conservancy (Draft), the Regulations on Ecological Conservation Compensation, and the Regulations on the Implementation of the Law on the Protection of Consumers’ Rights and Interests.