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China’s 2020 Catalogue of Industries for Encouraged Foreign Investment Released - China Legal News

Sun, 24 Jan 2021
Categories: China Legal News

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Compared with the 2019 Edition, the 2020 Catalogue has increased 127 items and modified 88 ones, further expanding the scope of encouraged foreign investment.

On Dec. 28, 2020, the National Development and Reform Commission (NDRC) and the Ministry of Commerce (MOFCOM) jointly released the Catalogue of Industries for Encouraged Foreign Investment (2020 Edition) (the Catalogue, 鼓励外商投资产业目录(2020年版)), which will be implemented on 27 Jan. 2021, and the Catalogue (2019 Edition) will be repealed at the same time.

Compared with the 2019 Edition, the Catalogue (2020 Edition) has increased 127 items and modified 88 ones, further expanding the scope of encouraged foreign investment.

The Catalogue (2020 Edition) focuses on adding items such as encouraged foreign investment in manufacturing industry, production service sector, and central and western regions. In terms of manufacturing industry, new or modified items such as integrated circuit test equipment are added to encourage foreign investment in key raw materials, parts, and equipment and other fields; in terms of encouraged foreign investment in production services, new or modified items such as blockchain technology development are added to encourage integrated development of service sector and manufacturing industry; and foreign investment is also encouraged to invest in advantageous industries in central and western regions.

In addition, the Catalogue has introduced a number of preferential policies in terms of tariff exemption, enterprise income tax reduction and preferential land supply, etc.

Contributors: Yanru Chen 陈彦茹

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