China has lifted all restrictions on foreign investors’ access to the country’s manufacturing industry, a landmark move for the world’s second-largest economy, Xinhua news agency reports. On Friday, a new list of sectors of the economy prohibited for foreign investment came into effect, and the last two items related to manufacturing were removed from it. The number of “closed” industries was reduced to 29.
The new document suggests that China’s manufacturing industry has reached a world-leading level of openness. Almost all developing countries impose restrictions on foreign investment in this sector, and even some developed countries continue to maintain certain restrictions, according to experts from the National Development and Reform Commission (NDRC).
In 2010, the volume of value added in China’s manufacturing industry exceeded that of the United States for the first time. In 2023, it accounted for approximately 30% of the global total, allowing the country to remain the world’s largest producer for 14 consecutive years.
In recent years, China has seen a steady increase in foreign direct investment (FDI) in high-tech manufacturing. In January-September of this year, the volume of actually utilized foreign investment increased by 57.3% and 29.2% year-on-year in the medical equipment and instrumentation industries, as well as in the computer and office equipment sector.
