China revising industry catalogue to encourage foreign investment

China will significantly increase items on the industry catalogue that encourage foreign investment and help foreign-funded firms to receive benefits from preferential policies, Vice Commerce Minister Wang Shouwen said Tuesday.

The Ministry of Commerce (MOC) will continue to implement the negative list for foreign investment and expand the scope of businesses encouraging foreign investment, sharing the market and opportunities in China with foreign investors, Wang said at the launching ceremony of an online international fair for investment and trade.

Wang also noted that the ministry will further improve the foreign investment service system, help foreign-funded firms solve difficulties and well implement the foreign investment law and relevant regulations to create a stable, fair, transparent and predictable business environment.

During the January-July period, actual use of foreign direct investment (FDI) on the Chinese mainland rose 0.5 percent year on year to 535.65 billion yuan (about 78.3 billion U.S. dollars), MOC data showed.

In July, FDI expanded 15.8 percent year on year to 63.47 billion yuan, marking the fourth consecutive month for the country to witness positive FDI growth.